Erica Has Three Types of Deposits at Her Credit Union

question 61

True/False

Erica has three types of deposits at her credit union. She has a checking account in her own name worth $42,000, a joint savings account with her husband, which currently holds $91,000, and an IRA account worth $145,000. Her deposits are at risk because they exceed the $250,000 limit on insurance coverage by NCUA.

---

Definitions:

Foreseeable Plaintiff

A concept in tort law referring to an individual who could be reasonably expected to be harmed by the defendant's actions or negligence.

Duty Of Care

Duty of care is a legal obligation imposed on individuals to take reasonable care of others to avoid causing harm or loss.

Manufacturing Defect

A flaw in a product that arises from a mistake in the manufacturing process, making it dangerous or defective.

Glass Bottle

A container made of glass used for storing drinks, condiments, or other liquids, appreciated for its ability to preserve flavor and prevent contamination.