Financial Information Can Be Sensitive Information

question 47

Multiple Choice

Financial information can be sensitive information.In order to allay the fears of the seller,a potential buyer could

• A) Not ask to see financial information
• B) Only show the information to an accountant
• C) Only show the information to a banker
• D) Write a letter of confidentiality

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Definitions:

Personal Defenses

Legal justifications or excuses that an individual can claim to defend against blame or legal liability.

Holders In Due Course

Individuals or entities that have acquired a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims that could be asserted against the prior holders.

Holder In Due Course

A party who has acquired a negotiable instrument in good faith and for value, and thus has certain rights above the original parties to the instrument.

Materially Altered

Describes a significant change made to a document or agreement that affects its terms or essence.