Which of the Following Statements Is True About Demand Letters

question 72

Multiple Choice

Which of the following statements is true about demand letters?

• A)The language should be forceful and harassing
• B)The client's demand must not be frivolous
• C)The letter should be insistent and adversarial
• D)The client's demand must not be frivolous and the letter should be insistent and adversarial
• E)All of these choices are correct

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Definitions:

Regulation E

A provision of the Electronic Fund Transfer Act that outlines rules for electronic payments, including transfers via ATM, debit card, and other direct transfers.

Federal Reserve

The central banking system of the United States that aims to provide the nation with a safer, more flexible, and more stable monetary and financial system.

E-money Transactions

Financial transactions carried out electronically, using digital currencies or electronic substitutes for cash.

Electronic Fund Transfer Act

A US federal law designed to protect consumers engaging in electronic transfers, including ATM transactions, direct deposits, and other electronic payments.