The contract holder always has the right to convert his account into a lifetime income (annuitize the contact).

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Sheffield Homes, which currently provides asylum seekers housing in the city, was not successful with its bid to retain the contract, which will handed over to the new contract holder in the coming months.

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If the price changes the day after a purchace, the holder of a contract can then sell the contract for a profit or loss depending on how the price changes.

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"There is a cost which arises from my decision to pay the previous post holder to the end of his contract, " the PCC says.

BBC: Barry Coppinger

But under the original contract used in the case decided yesterday, the copyright holder, Las Vegas Review-Journal parent Stephens Media, signed over only the right to sue while retaining an exclusive license to the content itself.

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