Which of the Following Is an Exception as to When

question 46

Multiple Choice

Which of the following is an exception as to when a secondary obligation needs to be in writing?

• A) The primary-purpose rule
• B) The resulting-fact rule
• C) The main-purpose rule
• D) The delineated rule
• E) The personal-obligation standard

---

Definitions:

Corporate Debt Securities

Financial instruments issued by corporations to borrow money from investors.

Security Sold Privately

A financial instrument, such as a stock or bond, that is sold directly to investors rather than through a public market.

Directly

Pertains to having an immediate connection or interaction without any intermediaries.

Indirectly

In a manner that is not directly done or expressed; involving an intermediary or being achieved through a secondary effect or means.