Knowledge Definition Reasonable Inquiry

Knowledge qualifiers definition of knowledge cont d seller favorable.

Knowledge definition reasonable inquiry. Deliberate failure to make a reasonable inquiry of wrongdoing as drug dealing in one s house despite suspicion or an awareness of the high probability of its existence. This language is often similar to the due diligence defense under section 11 c of the securities act of 1933. The seller also wants to limit the degree to which constructive knowledge is attributed. Knowledge means i with respect to an individual the actual knowledge of such individual and what such individual should have known serving in the capacity in which such individual serves following reasonable inquiry.

Knowledge of the company and the company s knowledge mean the knowledge after reasonable inquiry of the chief executive officer and. The term knowledge as used in this agreement with respect to seller or hsi shall mean the actual knowledge of any of the listed individuals after reasonable inquiry. Inquiry definition is a request for information. Inquiry definition a seeking or request for truth information or knowledge.

And ii with respect to a person other than an individual the actual knowledge of any individual who is then serving. Knowledge or to the knowledge of and similar phrases mean a in the case of an individual a particular fact or matter actually known or which could be expected to be known after reasonable inquiry in the ordinary and usual course of the performance of his or her professional responsibilities and b in the case of an entity if. Constructive knowledge definitions will often expressly include language referencing a duty of inquiry or reasonable investigation. Or seller s knowledge means the actual knowledge after reasonable inquiry knowledge for the avoidance of doubt shall include such inquiry that a prudent business person would have made in order to gain full understanding and determination of the accuracy of such fact or matter of those persons listed on schedule 1 1 ll.

How to use inquiry in a sentence. Sophisticated sellers request a middle of the road reasonable inquiry standard and may further clarify that the inquiry only relates to an individual s normal duties.