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Define and Discuss Horizontal and Vertical Privity

question 52

Essay

Define and discuss horizontal and vertical privity. Explain the effect of the Code and the courts on the concept of privity of contract.


Definitions:

TSX

The Toronto Stock Exchange, which is the largest stock exchange in Canada and the ninth largest in the world by market capitalization.

NASDAQ

A global electronic marketplace for buying and selling securities, as well as the benchmark index for U.S. technology stocks.

Over-The-Counter Market

A decentralized market where securities not listed on major stock exchanges are traded directly between parties.

Dealers

Individuals or firms in the financial markets that act as principals in trading, buying, and selling securities for their own account.

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