Why Do Courts Need to Accomplish a Service of Process

question 52

Multiple Choice

Why do courts need to accomplish a service of process?

• A) to obtain personal jurisdiction over the plaintiff in a lawsuit
• B) to obtain personal jurisdiction over the defendant in a lawsuit
• C) to obtain jurisdiction to hear a case where the court has jurisdiction over the property in the lawsuit
• D) to obtain jurisdiction over nonresidents who were not served summons within a state

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Definitions:

Unrealized Holding

Unrealized holding refers to the increase or decrease in the value of an investment that has not yet been sold by the holder and thus, any potential gain or loss is not yet recognized in the financial statements.

Fair Value

An estimate of the market value of an asset or liability, based on current prices in an open and competitive market.

Reporting Period

The reporting period is the span of time covered by financial reports, and it can be monthly, quarterly, or annually.