New Summary Video: Hearsay and Market Reports
We dropped a new video summary. This time it is the Rule 803(17) exception to the hearsay rule about Market Reports. If you need a short refresher, please take a look.
The exception says certain market reports and commercial publications are not hearsay. Specifically, Market Reports and Similar Commercial Publications are not hearsay if they are market quotations, lists, directories, or other compilations that are generally relied on by the public or by persons in particular occupations. The exception is designed to include compilations of information such as reports of stock market prices, telephone directories, and sales information for products. The advisory committee's note supports that interpretation, explaining that the exception applies to matters such as "newspaper market reports, telephone directories, and city directories." The note adds that the "basis of trustworthiness is general reliance by the public or by a particular segment of it, and the motivation of the complier to foster reliance by being accurate. Rule 803(17) will apply to compilations of data then, such as a database showing location of manufacture of automobiles. Bloomberg market price quotes for various markets. Market reports, telephone directories, weather reports, mortality tables, or similar. A real estate listing of properties sold, sale prices, and dates sales closed. A bank directory showing bank routing numbers. Or, a catalogue of a particular company's products.
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