Which of the Following Is Characteristic of Common Law

question 16

Multiple Choice

Which of the following is characteristic of common law?

• A) It is written in codes based on legal principles, and judges decide cases based on those codes and the principles expressed in them.
• B) Its evolution was independent of the precedents set by public courts.
• C) It typically does not use an adversarial system of litigation.
• D) It can adjust to changing circumstances without having to wait for new statutes to be enacted by legislation.

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Definitions:

Net Float

Net float is the difference between the balance according to the bank's records and the balance according to the company's records, due to checks or other transactions in the process of clearing.

Collection Float

The time period between when a check is deposited in a bank and when the funds are made available, reflecting the bank's processing time.

Mail Float

The time difference between when a check is written and when it is actually cleared and funds are deducted from the payer's account.

Availability Float

The time difference between when a check is deposited in a bank account and when the funds are made available.