Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Woodson, Inc. (Woodson) is negotiating to sell its business to Zenick Industries, Inc. (Zenick). Woodson is willing to make a representation to Zenick that, to
Woodson, Inc. ("Woodson") is negotiating to sell its business to Zenick Industries, Inc. ("Zenick"). Woodson is willing to make a representation to Zenick that, "to the best of its knowledge," no one has ever handled or deposited toxic waste on the land owned by Woodson. The parties are now negotiating over how to define "knowledge" in the purchase and sale contract. Woodson wants to narrow the scope of its representation to minimize the risk that it will breach the representation. Which of the following definitions of knowledge would render Woodson's representation narrowest? a. 'Knowledge' means the actual knowledge of the CEO, its Chief Financial Officer, its General Counsel, and its Board of Directors, after they have conducted a reasonable inquiry. b. 'Knowledge' means the fact or condition of knowing something with familiarity gained through experience or association. c. 'Knowledge' means the actual knowledge of Woodson's Chief Financial Officer, without conducting an investigation. d. 'Knowledge' means facts or ideas acquired by study, investigation, observation, or experience. e. 'Knowledge' means the actual knowledge of any Woodson officer or member of Woodson's board of directors, or any legal or financial personnel of Woodson and such knowledge that would be imputed to such persons upon reasonable inquiry or due investigation. An individual will be deemed to have knowledge of a particular fact, circumstance, event, or other matter if such fact
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started