What Is Other Real Estate Owned (OREO)? Other Real Estate Owned (OREO) is a bank accounting term that refers to real estate property assets that a bank holds, but that are not part of its business. Oftentimes, these assets are acquired due to foreclosure proceedings. A large quantity of OREO assets on a bank balance
What Is an Option Schedule? The term option schedule refers to a list of options granted by a company to its employees. Employers commonly offer employees options in the form of stocks as a type of compensation. This is especially common for high-level employees like officers and directors of public companies. The schedule for these
What Is an Option Series? An option series refers to a grouping of options on an underlying security with the same specified strike price and the same expiration month. However, call and put options are parts of separate series. For example, a call option series would include the available calls on a specific security at
What Are Options On Futures? An option on a futures contract gives the holder the right, but not the obligation, to buy or sell a specific futures contract at a strike price on or before the option’s expiration date. These work similarly to stock options, but differ in that the underlying security is a futures
What is an Opt Out Right An opt out right generally describes a party’s ability to exclude themselves from specific elements of or changes to a legal agreement. In finance, this right applies most often to sharing of private information among financial institutions. BREAKING DOWN Opt Out Right An opt out right gives a party
Who Is the Oracle of Omaha? The Oracle of Omaha is a nickname for Warren Buffett, who is arguably one of the greatest investors of all time. Buffett is the chair and CEO of Berkshire Hathaway, a company that he became the controlling shareholder of in the mid-1960s. He is called the Oracle of Omaha because
What is an Oral Contract? An oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding. Oral contracts
What Is an Oral Will? An oral will is a will that is made verbally to others and with the intent of ensuring that the wishes of the dying are carried out. It does not take on written form. Understanding Oral Wills Oral wills are referred to as a noncupative will or deathbed will. A
What Is an Order? An order consists of instructions to a broker or brokerage firm to purchase or sell a security on an investor’s behalf. An order is the fundamental trading unit of a securities market. Orders are typically placed over the phone or online through a trading platform, although orders may increasingly be placed
What Is an Order Paper? An order paper, or order instrument, is a negotiable instrument that is payable to a specified person or its assignee. An instrument such as an order paper is negotiable only if it is payable to the order of a specified person; meaning that it must designate an individual’s name to
