Under the Securities Act of 1933, which of the following statements most accurately reflects how securities registration affects an investor?
A. The investor is provided with information on the shareholders of the offering corporation.
B. The investor is provided with information on the principal purposes for which the offering's proceeds will be used.
C. The investor is guaranteed by the SEC that the facts contained in the registration statement are accurate.
D. The investor is assured by the SEC against loss resulting from purchasing the security.
Answer: B. The investor is provided with information on the principal purposes for which the offering's proceeds will be used.
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Terms of the sales contract must be reflected in the letter of credit, if not the buyer must clear all discrepancies upon examination of the letter of credit
Indicate whether the statement is true or false
Anticipatory breach:
a. is addressed by U.C.C. Section 2-207, not by the common law b. requires that a valid contract will not be enforced by the courts because of a subsequent illegality c. discharges the duties of the non-breaching party and allows that party to sue for damages from the repudiation d. is prohibited by the U.C.C., but allowed by the common law e. none of the other choices