In the Financial Services Sector,strict Reporting Requirements of the Dodd-Frank

question 123

True/False

In the financial services sector,strict reporting requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 are leading to greater use of data governance.

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Definitions:

Breach of Condition

A breach of condition refers to the failure to meet a critical term of a contract, which can entitle the other party to terminate the agreement and seek damages.

Legal Tender

A form of money that under law must be accepted if offered in payment of debt.

Self-induced Frustration

A situation where a party deliberately or through its own actions causes the conditions that render it unable to fulfill a contract, thus cannot claim frustration of the contract.

Halloween Sales

Periodic retail promotions and discounts offered around the end of October in celebration of Halloween, aiming to boost sales with themed products.