An Important Financial Institution That Assists in the Initial Sale

question 48

Multiple Choice

An important financial institution that assists in the initial sale of securities in the primary market is the

• A)investment bank.
• B)commercial bank.
• C)stock exchange.
• D)brokerage house.

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Definitions:

Charitable Donation

A gift made to a charitable organization, often tax-deductible for the donor.

Enforceable

A term describing a contract or provision that is legally binding and can be upheld in court.

Postbox Rule

A legal principle in contract law stating that an offer is considered accepted at the moment the acceptance is dispatched by the offeree, not when it is received by the offeror.

Revocation

The process of formally withdrawing, cancelling, or annulling a decision, offer, or legal power.