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What is the difference between arm's length transaction and non-arm's length transaction? How did the term " arm's length" originate?

Accounting Auditing
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Question added by HANNA SABA , Team Leader (Administrative Support), including translation, editing, and writing , Deloitte
Date Posted: 2014/06/14
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by Deleted user

The length of an arm, outstretched, is deemed to be the distance allowable between two people for them to maintain their "personal space"! If you get within an arm's length of someone without their permission you are invading their "personal space" or their "privacy".

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