At Fast-Track Financial Services,it Is Not Unusual for a Financial

question 54

True/False

At Fast-Track Financial Services,it is not unusual for a financial consultant to lose a client to another consultant working out of the same office.Clients have a right to do business with whomever they choose.If it is a high net worth client,with the potential for high commissions on sales,the incentive to steal a fellow co-worker's client exists because the firm's culture has not established integrity based ethics to deter this activity.

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Definitions:

Holder in Due Course

A legal term for an entity that has acquired a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims that could be made against the instrument.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money to the bearer or a named party, either on demand or at a set time.

Value

The importance, worth, or usefulness of something, often determined by the demand for it in the market or its inherent qualities.

Simple Consideration

The minimal requirement of value that must be exchanged between parties entering into a contract, for the contract to be considered valid.