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The asset in question is a "share" that entitles the bearer to college credits in any school at the future date. A college credit is not a claim to a cash flow, nor it is claim to equity. Therefore, this is not a security. Rather, it is a coupon by which a product can later be acquired. There is no difference between this asset……The home security market offers many plug and play equipment packages that center around an audible alarm to deter intruders who trigger a door or window sensor. They do not offer professional monitoring, so there’s no monthly service contract involved.
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If you’re not buying the security gadget upfront, ask about the leasing price and any additional terms.
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Another benefit, although this is also the source of many ethical challenges as will be discussed later, is a PMC's ability to operate more freely than a state's military.