Practice question
A seller repeatedly markets the same type of security in successive transactions and calls each sale isolated. The seller is also an underwriter. Which is best under section 10.1(c)?
- A label always makes the sale isolated
- Every repeated sale is exempt
- The stated facts conflict with the isolated-transaction conditions, including the non-underwriter requirement
- A sales script repeals the registration rule
- Only the color of the certificate matters
Legal references
- https://lawphil.net/statutes/repacts/ra2000/ra_8799_2000.html — RA 8799, sections 8–10 and 26
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