Examlex
Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The Securities and Exchange Commission was established as a result of the [Securities Act of 1933 | Securities Exchange Act of 1934].
Operation of Law
Legal changes or transfers that occur automatically due to established legal rules, rather than through actions by the parties involved.
Implied Warranties
Warranties not explicitly stated but are assumed in transactions, ensuring goods or services meet reasonable expectations of performance.
Due-on-sale Warranties
Clauses in a mortgage agreement that require the full loan balance to be repaid if the property is sold.
Express Warranties
Explicit guarantees made by a seller about the quality, safety, or performance of a product or service.
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