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A series of incorrectly issued certificates from 2001 onwards [1] [2] damaged trust in publicly trusted certificate authorities, [3] and accelerated work on various security mechanisms, including Certificate Transparency to track misissuance, HTTP Public Key Pinning and DANE to block misissued certificates on the client side, and CAA to block misissuance on the certificate authority side.
A face-amount certificate (FAC) is a contract between an investor and an issuer in which the issuer guarantees payment of a stated (face amount) sum to the investor at some set date in the future. In return for this future payment, the investor agrees to pay the issuer a set amount of money either as a lump sum or in periodic installments.
Until recently, there was no mechanism to control the movement of bearer shares. Registered agents, sending their agent company's constituent documents, together with the certificate of registration, the charter, and the memorandum of association, passed, as a rule, the forms of certificates of shares.
On November 14, 1975, the FTC promulgated Rule 433, [3] formally known as the "Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses", which "effectively abolished the [holder in due course] doctrine in consumer credit transactions". [4] In 2012, the FTC reaffirmed the regulation. [5]
The authorization certificate works in conjunction with a public key certificate (PKC). While the PKC is issued by a certificate authority (CA) and is used as a proof of identity of its holder like a passport, the authorization certificate is issued by an attribute authority (AA) and is used to characterize or entitle its holder like a visa ...
An equipment trust certificate is a specific case. In creating such a pass-through structure, the underlying assets are "bundled" into a pass-through security [ 2 ] (also known as a "pay-through security"), where the principal and interest payments are "passed through" to certificate holders.
The Turquand rule was formulated to keep an outsider's duty to inquire into the affairs of a company within reasonable bounds, but if the compliance or non-compliance with an internal requirement can be ascertained from the company's public documents, the doctrine of disclosure and the doctrine of constructive notice will apply.
The need for day count conventions is a direct consequence of interest-earning investments. Different conventions were developed to address often conflicting requirements, including ease of calculation, constancy of time period (day, month, or year) and the needs of the accounting department.