Under Section 11 of the Securities Act of 1933,a Defendant

question 48

Multiple Choice

Under Section 11 of the Securities Act of 1933,a defendant (other than the issuer) may establish a defense to liability if the defendant can prove that he/she acted:

• A)with due diligence.
• B)with scienter.
• C)without scienter.
• D)without due diligence.

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Definitions:

Tenants in Common

A form of co-ownership where each tenant owns a separate and undivided interest in the property, and upon death, their share passes to their heirs or designated beneficiaries.

Severing

The act of legally separating or dividing a contract, legal obligation, or property right into distinct parts.

Boating Accident

An incident involving a boat that results in damage, injury, or death, which may be subject to investigation and legal proceedings.

Willed

Refers to the act of intentionally making a decision or action, often associated with the distribution of one's assets according to their wishes through a legal document known as a will.