Savings and Loan Associations Are Sometimes Known as

question 102

Multiple Choice

Savings and loan associations are sometimes known as

• A) nonbanks.
• B) thrift institutions.
• C) credit unions.
• D) bankers' banks.

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Definitions:

Refusal to Pay

The act of not fulfilling a financial obligation or payment when due, often leading to legal consequences.

Negotiable Instrument

A legal document guaranteeing the payment of a specified amount of money, either on demand or at a set time, with the name of the payee that can be transferred by endorsements.

Fraud in Payment

Deceptive actions or schemes aimed at unlawfully obtaining money or assets through the manipulation of payment processes.

Demand Negotiable Note

A written, unconditional promise to pay a certain amount of money upon demand to the bearer or at a specified time.