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10. Exhibit A is a true and accurate copy of the
valuation report that Arthur Anderson prepared for
Vancom Holdings, Inc.
III. Admissibility
A. Introduction
With respect to affidavits supporting a motion for summary
judgment, Rule 121(d) provides, among other things, that the
affidavits “shall set forth such facts as would be admissible in
evidence”.
Respondent claims that petitioner cannot rely on the
valuation report to support the motion because it constitutes
hearsay that would be inadmissible under the Federal Rules of
Evidence.
B. Hearsay
1. Introduction
If the valuation report is offered for the truth of the
matters asserted therein, the report constitutes hearsay. Fed.
R. Evid. 801(c). In general, hearsay is not admissible. See
Fed. R. Evid. 802. Petitioner does not argue that, if offered in
evidence, the report would not be hearsay. To the contrary,
petitioner argues that, if offered in evidence, the report would
constitute a business record of Vancom Holdings, Inc., which is
admissible hearsay. See Fed. R. Evid. 802 and 803(6).
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