Residual Right is a provision contained in a corporation's charter and by-laws which give current common stockholders the right to purchase (on a pro rata (one-for-one) basis) any new common shares issued by the corporation (or securities convertible into common equity (e.g., Warrants, convertible bonds, etc.)). True False QUESTION 15 Discount brokers began to appear in the 1960's to help handle institutional trading needs under the old fixed-commission fee system on Wall Street. True False Residual Right is a provision contained in a corporation's charter and by-laws which give current common stockholders the right to purchase (on a pro rata (one-for-one) basis) any new common shares issued by the corporation (or securities convertible into common equity (e.g., Warrants, convertible bonds, etc.)). True False QUESTION 15 Discount brokers began to appear in the 1960's to help handle institutional trading needs under the old fixed-commission fee system on Wall Street. True False