In this task, you will be shown a prompt from a judicial decision and multiple holding statements derived from citations following text in a legal decision.  Holdings represent the governing legal rule when the law is applied to a particular set of facts. There are five answer choices for each citing text. The correct answer is the holding statement that corresponds to the citing text. The four incorrect answers are other holding statements. You should find the correct option. There is a <HOLDING> token in the position of the citing text prompt where the holding statement was extracted.

Ex Input:
activity, not objectionable under the prevailing standards of lawful and approved social conduct in the community---- Informed public sentiment is only against unlicensed gambling, which is unsupervised, unregulated by law and which affords no protection to customers and no assurance of fairness or honesty of the operation of the gambling devices.” Similarly, the New Jersey Supreme Court, in Caribe Hilton Hotel v. Toland, 63 N.J. 301, 307, 307 A.2d 85, 88 (1973), stated that “[w]hile New Jersey continues to take a strict view of those forms of gambling that are prohibited, the fact that wagering in various different ways is now authorized demonstrates that our public policy can no longer be said to condemn gambling per se.” See also, Castilleja v. Camero, 414 S.W.2d 424 (Texas 1967) (<HOLDING>); In re Smith, 66 B.R. 58 (Bankr.D.Md.1986), 
 Holding statements: (A) holding that an attorney approval clause in a contract for the sale of real estate was a part of that contract and would have to be satisfied for the underlying contract to be enforceable (B) holding that a contract is not effective until the performance of the conditions precedent and that a condition precedent calls for the happening of some event or the performance of some act after the terms of the contract have been agreed on before the contract shall be binding on the parties (C) holding that for a suit to be brought in the venue in which the contract was to be performed the contract must expressly state where the performance of the contract was to occur (D) holding that the place of performance governs the legality of the contract and because the contract was to be performed in mexico texas public policy against gambling was not implicated (E) holding that place of performance of a life insurance contract was the state where premiums were made payable even if the contract was made in another state

Ex Output:
(D)


Ex Input:
policy becomes a composite of factors that bear on a better answer to the question, ‘How shall the losses be distributed?’ ”). Slain and Kripke argued that “[t]he situation with which we are concerned involves two risks: (1) the risk of business insolvency from whatever cause; and (2) the risk of illegality in securities issuance.” Slain & Kripke, supra, at 286. Analyzing the first risk — that of business insolvency-Slain and Kripke observed that the absolute priority rule allocates this risk to shareholders. Under the absolute priority rule, “stockholders seeking to recover their investments cannot be paid before provable creditor claims have been satisfied in full.” Id. at 261; see generally Consol. Rock Prods. Co. v. Du Bois, 312 U.S. 510, 520-21, 61 S.Ct. 675, 85 L.Ed. 982 (1941) (<HOLDING>); Case v. Los Angeles Lumber Prods. Co., 308 
 Holding statements: (A) holding that claims raised in later litigation were barred because they could have been fully litigated in chapter 11 reorganization process (B) holding that stockholders cannot participate in a plan of reorganization unless creditors claims have been satisfied in full (C) holding that plan language giving plan administrator power to determine which employees are eligible to participate in the plan and providing all parties dealing with the plan an interpretation of plan provisions on request indicates deferential standard of review of trustee eligibility decisions (D) holding that remedies provided in the bankruptcy code for enforcing a chapter 11 plan of reorganization are not exclusive (E) holding that debtor whose plan of reorganization had been confirmed by bankruptcy court could not later bring lender liability claims against creditors where those claims could have been raised in bankruptcy proceeding

Ex Output:
(B)


Ex Input:
but concluding that Rule 6-9 is not applicable in this case does not necessarily impede that purpose. First, Rule 2(a)(2) allows an immediate appeal from an order denying intervention. Second, such an appeal does not prohibit the circuit court from maintaining jurisdiction and conducting hearings, as Ark.Code Ann. § 9-27-343(c) (Repl.2008) specifically provides that the circuit court retains jurisdiction to conduct further hearings, pending an appeal from any case involving a juvenile out-of-home placement. See also Harwell-Williams v. Ark. Dep’t of Human Servs., 368 Ark. 183, 243 S.W.3d 898 (2006). Moreover, not every order resulting from a dependency-neglect case is automatically appealable under Rule 6-9. See Ark. Dep’t of Human Servs. v. Denmon, 2009 Ark. 485, 346 S.W.3d 283 (<HOLDING>). Accordingly, as this appeal is governed by 
 Holding statements: (A) holding that a permanency planning order was not immediately appealable under rule 69 absent a rule 54b certification (B) holding rule 54b certification invalid because unaccompanied by any statement of reasons and factors underlying trial courts decision to grant certification (C) holding that dismissal of some but not all claims or parties not immediately appealable absent rule 54b certification (D) holding that entry of final judgment on a claim in a multiparty action pursuant to rule 54b should clearly articulate the reasons and factors underlying the decision to grant 54b certification (E) holding that rule 54b certification order should contain specific findings setting forth reasons for certification

Ex Output:

(A)