Examlex
Which of the following is a contractual saving institution?
Principal
The original amount of money invested or loaned, upon which interest is calculated, or the main party involved in a transaction.
Ratification
The official way to confirm something, usually by vote, making it valid or officially approved.
Agency
A legal entity in which one party (the agent) is authorized to act on behalf of another (the principal) in creating legal relationships with third parties.
Effective
The degree to which something is successful in producing a desired or intended result.
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