Which of the Following Is a True Statement Concerning Bank

question 102

Multiple Choice

Which of the following is a true statement concerning bank holding companies?

• A) Bank holding companies own few large banks.
• B) Bank holding companies have experienced dramatic growth in the past three decades.
• C) The McFadden Act has prevented bank holding companies from establishing branch banks.
• D) Bank holding companies can own only banks.

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Definitions:

Hamer v. Sidway

A landmark case in contract law regarding forbearance as consideration, where a promise not to do something can be as legally binding as a promise to do something.

Unforeseen Circumstances

Situations or events that could not have been predicted or expected, often leading to disruptions in agreements or plans.

Preexisting Duty Rule

A legal principle stating that an existing contractual obligation cannot serve as consideration for a new contract.

Bilateral Contract

A bilateral contract is a mutually binding agreement in which each party makes a promise to the other, such as a promise to perform a service in exchange for payment.