Because Credit Unions ____ Stock, They Are Technically Owned by the ____

question 41

Multiple Choice

Because credit unions ____ stock, they are technically owned by the ____.

• A)issue; depositors
• B)do not issue; depositors
• C)issue; stockholders
• D)do not issue; management

---

Definitions:

Rescission

The legal act of voiding a contract and returning all involved parties to their pre-contractual positions, often due to misrepresentation, fraud, or error.

Compensatory

Referring to a form of damages awarded to a plaintiff in a lawsuit to compensate for lost items, damage, or injury.

Breach of Contract

Happens when a party does not meet their contractual duties, enabling the other party to pursue legal solutions.

Benefit of His Bargain

A principle in contract law that entitles a party to expect the benefits promised in an agreement, often in the context of damages for breach.