An option that may be exercised only on the expiration date is called a future option.
What is expiration date?
- By operation of law or by exceeding the projected shelf life for perishable items, expiration date or expiry date is a previously established time after which something should no longer be utilized.
- Expiration dates are included on a few food goods as well as some other manufactured items, such as baby car seats, whose age may affect their ability to be used safely.
- Depending on the country and the product, words have different legal meanings and expiration date.
- Products with a propensity to deteriorate and those with a propensity for shelf stability may be referred to by different terms.
- The phrase "Use by" is frequently used to describe foods like milk and meat that are more likely to spoil and pose a risk to consumers.
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