Whose Responsibility Is It to Obtain the Capital Needed to Close

question 32

Multiple Choice

Whose responsibility is it to obtain the capital needed to close the deal with the target firm?

• A) Investors
• B) Searchers
• C) Target firm
• D) Both A and C

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Definitions:

Promissory Note

A financial instrument indicating a written promise by one party to pay a definite sum of money to another party under agreed terms.

Notice

A formal communication or announcement given to someone to make them aware of something or to officially inform them of a decision or legal requirement.

Overdue

A status indicating that a payment, task, or obligation has not been fulfilled by the designated or expected deadline.

HDC Status

Holder in Due Course Status; a term in negotiable instruments law referring to a person who has acquired a negotiable instrument in good faith for value, and thus has certain protections.