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When the distribution of a private key to another trusted party is described as being out of band, what does that mean? the other party

When the distribution of a private key to another trusted party is described as being "out of band," what does that mean?
the other party really should not be trusted, potentially leading to the whole circle of trust being corrupted
the public key will be automatically retrieved by a computer user's web browser
the private key may be presented to the other party physically, perhaps even on a sheet of paper
the algorithm used to develop the key pair is insufficient in terms of its strength
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