Which of the Following Permits the SEC to Exempt Persons

question 64

Multiple Choice

Which of the following permits the SEC to exempt persons, securities, and transactions from securities regulations?

• A) The Sarbanes-Oxley Act of 2002
• B) The Securities Acts Amendments of 1990
• C) The Market Reform Act of 1990
• D) The Securities Enforcement Remedies and Penny Stock Reform Act of 1990
• E) The National Securities Markets Improvement Act of 1996

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Definitions:

Quantum Meruit

A Latin term meaning "as much as he has earned," used in legal context to denote compensation deserved for services or work done when no contract exists.

Substantial Performance

A legal concept that a contract has been completed enough to fulfill its purpose, even if all details have not been precisely met.

Anticipatory Breach

A situation in contract law where one party indicates in advance that they will not fulfill their contractual obligations.

Frustrated Contract

A contract under which performance by a party is rendered impossible due to an unexpected or unforeseen change in circumstances affecting the agreement.