Which of the Following Is a Characteristic of a Restricted

question 34

Multiple Choice

Which of the following is a characteristic of a restricted security?​

• A)​It is purchased in a private offering.
• B)It cannot be sold at any time.
• C)​It is subject to reporting requirements.
• D)​After six months,it is classified as a control security.

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Definitions:

Ethical Obligation

A moral responsibility to act in accordance with ethical principles.

Firm Offer

A legal concept in contract law where an offeror is bound to keep an offer open for a specified period, making it irrevocable even without consideration.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another when the latter has relied on that promise to their detriment.

Detrimental Reliance

A legal principle where a party suffers a loss due to their reliance on a promise or agreement that is not fulfilled by the other party.