INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 67

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
Savings and loan associations (S&Ls) are more likely to pay [ lower | higher ] interest rates on savings than do commercial banks.

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Definitions:

Express Warranty

A written guarantee, issued to the purchaser of an item, promising to repair or replace it if necessary within a specified period.

Trade Usage

Customary practices and norms adopted by a particular industry or commerce sector that can influence the interpretation and enforcement of contracts.

Statute Of Limitations

A statute prescribing the maximum time after an event within which legal proceedings may be initiated, based on the nature of the claim or case.

UCC

The Uniform Commercial Code represents an extensive collection of regulations that oversee business deals within the United States.