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List Five Benefits That a Member Firm Might Have If

question 70

Essay

List five benefits that a member firm might have if its association imposes self-regulation to maintain its membership.


Definitions:

Rectification

The judicial procedure for rectifying an error in a document to accurately represent the real intentions of the parties concerned.

Assignee

The person or party to whom rights or interests have been transferred by another party, called the assignor.

Assignor

The party in an agreement who transfers rights or interests to another party, known as the assignee.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specified sum of money to the bearer or to the order of a specified person.

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