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________ Exists in a Market Where the Price of a Security

question 64

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________ exists in a market where the price of a security reflects all information, whether it is publicly available or known only to insiders such as the firm's managers or directors.


Definitions:

Warranties

Warranties are guarantees made by a seller that the goods or services offered meet certain quality standards and assurances about the product or service's condition.

Implied Warranty

A legal concept that guarantees a product will meet basic standards of performance and quality without being explicitly stated.

Warranty Of Fitness

An assurance that a product will meet a buyer's specified purpose or needs, often implied in a sale unless specifically excluded.

Implied Warranty

A legally assumed guarantee that a product will meet certain quality and reliability standards.

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