A Saving Account Is Also Known as a Time Deposit

question 43

True/False

A saving account is also known as a time deposit.

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Definitions:

Void

Refers to a legal declaration that an agreement or transaction is null and has no legal effect.

Mentally Impaired

Describes a condition where an individual's cognitive, emotional, or social abilities are significantly reduced compared to normative levels, potentially impacting their decision-making capacity.

Ratified

An action making an agreement officially valid after all parties involved have given their formal approval.

Voidable

A term used to describe a legal agreement or transaction that can be validated or invalidated at the discretion of one of the parties involved.