TASK DEFINITION: In this task, you will be shown a prompt from a judicial decision and multiple holding statements derived from citations following text in a legal decision. Holdings represent the governing legal rule when the law is applied to a particular set of facts. There are five answer choices for each citing text. The correct answer is the holding statement that corresponds to the citing text. The four incorrect answers are other holding statements. You should find the correct option. There is a <HOLDING> token in the position of the citing text prompt where the holding statement was extracted.
PROBLEM: 421 U.S. 723, 95 S.Ct. 1917, 44 L.Ed.2d 539 (1975), and is consistent with the holdings in Herman & MacLean v. Huddleston, 459 U.S. 375, 382, 103 S.Ct. 683, 687, 74 L.Ed.2d 548 (1983), and in Basic, Inc. v. Levinson, supra. Blue Chip Stamps held that a section 10(b) plaintiff must be a purchaser or seller of a security, and thus limited standing under the 1934 Act to "plaintiffs ... who have at least dealt in the security to which the prospectus, representation, or omission relates." Id. 421 U.S. at 747, 95 S.Ct. at 1931. Put and call option trading on an underlying security is directly affected by the prospecti, representations and omissions of the issuer of the underlying security. See Deutschman, 841 F.2d at 506. Cf. Kirby v. Cullinet Software, Inc., 116 F.R.D. 303 (D.Mass.1987) (<HOLDING>). In Herman & MacLean v. Huddleston, 459 U.S.
Holding statements: (A) recognizing a narrow class of cases in which the termination of the class representatives claim for relief does not moot the claims of the class members (B) holding that class representatives cannot appear pro se (C) holding that sellers of covered calls are not atypical class representatives (D) holding that a class representatives ignorance of the case is not a bar to certification unless it impairs the representatives ability to vigorously prosecute the action (E) holding that it is error to certify class when named class representatives are not members of the class they purport to represent

SOLUTION: (C)

PROBLEM: pre-estimate may in fact operate as a penalty and become unenforceable is shown by the fact that even though the sum fixed as compensation for each day's delay ... is held to be a reasonable provision for liquidated damages and to be enforceable, no court will permit it to go on operating forever. 11 Corbin on Contracts, supra, 58:21 at 523. That treatise then observes that there is "some lack of uniformity in the method of determining this time limit." Id. In general, there are two rules that courts have applied to this predicament. Some courts have held that a liquidated damages clause is inapplicable when a contractor has completely abandoned a project. See, e.g., City of Elmira v. Larry Walter, Inc., 76 N.Y.2d 912, 563 N.Y.S.2d 45, 564 N.E.2d 655, 656 (1990) (per curiam) (<HOLDING>). Others have held that, when a contractor has
Holding statements: (A) holding that prejudgment interest should not be added to damages awarded for misrepresentation because the amount of damages were not liquidated or ascertainable before the verdict (B) holding that language of contract did not limit plaintiffs recovery to liquidated damages (C) holding that liquidated damages under the adea are intended to punish and deter while contrasting them to the legislative purpose of liquidated damages under the fsla (D) holding that because liquidated damages under the adea are punitive in nature a jurys award of state punitive damages and adea liquidated damages constitutes a double recovery and therefore reducing the total recovery by the amount of the liquidated damages award (E) holding that in the absence of clear and unambiguous language indicating that liquidated damages clause was intended to apply to contractors outright abandonment of the project no such damages should be awarded

SOLUTION: (E)

PROBLEM: that time. I think I thought that a reasonable and just and sufficient sentence was the 41 months, and I think that now with credit for time served. The sentence is within the guideline range. That range does not exceed 24 months. The Court finds no reason to depart from the sentenced called for by the application of the guidelines. The Court finds the sentence to be reasonable and sufficient. And even though you did make a request for it, under 3553(a)(1) through (7) of 18 U.S.C., the Court specifically finds that the sentence is reasonable, sufficient, and adequate. We find it plain that the court treated the Guidelines range as advisory on resentencing, and therefore, Booker did not preclude the court from making and relying on the challenged fact findings. Chau, 426 F.3d at 1323 (<HOLDING>). It is now well-settled that a district court
Holding statements: (A) holding a sentence within the advisory guidelines range is presumptively reasonable (B) holding that the pennsylvania sentencing guidelines are purely advisory in nature (C) holding guidelines to be only advisory (D) holding that the use of extraverdict enhancements in an advisory guidelines system is not unconstitutional quotation omitted (E) holding that the cocaine guidelines are advisory only

SOLUTION:
(D)