Insider Trading Is Illegal Only If the Person with Secret

question 18

True/False

Insider trading is illegal only if the person with secret information has a duty to disclose to those with whom he trades,thus in Chiarella v US,Mr.Chiarella was found innocent.

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Definitions:

Real Property

Land and anything permanently affixed to it, such as buildings and trees.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Deed of Trust

A legal document used in some states that involves three parties—the borrower, the lender, and the trustee—and it serves as a lien on real property.

Default

The failure to fulfill a legal obligation, especially the failure to pay back a loan according to the agreed-upon terms.