A Public Company Must Disclose If the Company Has Not

question 47

True/False

A public company must disclose if the company has not adopted a code of ethics that applies to senior management, but not the reason why it has not done so.

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Definitions:

Oral Contract

An agreement between parties that is made verbally instead of being documented in writing.

Admission

A statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

Equal Dignity Rule

A legal principle requiring that agents’ actions and contracts signed on behalf of a principal must be in writing if the principal's contract is also required to be in writing.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party to be charged, in order to be enforceable.