The Serious Year 2000 Problem
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A serious computer problem, variously known as the “Year 2000,” “Y2K,” “Century Date Change,” or “Millennium Bug” problem, faces many companies. This report is intended to provide a summary discussion of some of the major legal issues that may arise due to the Year 2000 problem.
Th ....
Middle of paper
.... calculation which can be produced due to this problem, when a computer sorts dates by year, “00” could be identified as an earlier date than “99”. A financial spreadsheet or projection therefore might show the financial trend for the 1999-2000 period running backwards rather than forwards. Insurance company computers might report a policy running through the year 2001 as having instead expired in 1901.
A bank computer calculating the interest for a financial instrument for th ....
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Word count: 423
Page count: 2 (approximately 250 words per page)
