A security is sold to the public under a private placement exemption. Later a suit is filed under the federal securities law claiming securities fraud. This suit will:
a. fail since the security is not subject to the federal law since it was sold under an exemption
b. fail since the security is not subject to the federal law since it was sold under an exemption?unless therewere subsequent financial disclosures to the SEC
c. fail since the security is not subject to the federal law since it was sold under an exemption?unless a privatecommon law fraud suit has already prevailed
d. be allowed only if there was a blue sky law violation e. none of the other choices
e
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Depending on the maturity date, held-to-maturity investments are categorized as current assets or long-term assets on the balance sheet
Indicate whether the statement is true or false
In the case of UBS Securities Canada v. Sands Brothers Canada, the court held that:
A) There was not an enforceable agreement because the agreement to sell the shares was not in writing. B) There was not an enforceable agreement because some terms were expressly left to be decided later. C) There was not an enforceable agreement because there was no consideration. D) There was an enforceable agreement because all the essential terms were included. E) There was not an enforceable agreement because the price of the shares had changed significantly after the initial offer to purchase was made