Bubba and his wife, Bubbette, maintain a joint account with a brokerage firm as "joint tenants in common". Bubbette calls a registered representative at the brokerage and places an order to sell 100 shares of XYZ, which is long in the account. Which of the following statements is correct about this order?
A)it may be entered
B)it may be entered only after confirming with Bubba
C)it must be approved by an officer of the brokerage prior to entry
D)the order may not be accepted

Question

Quizplus · Accepted Answer

it may be entered. In a joint account any tenant is empowered to enter orders, which is specified in the account agreement.

Bubba and His Wife, Bubbette, Maintain a Joint Account with a Brokerage