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_______________ Accept the Savings of Individuals and Lend Pooled Savings

question 126

Multiple Choice

_______________ accept the savings of individuals and lend pooled savings to individuals primarily in the form of mortgage loans and operate almost entirely in New England , New York, and New Jersey, with most of their assets continuing to be invested in mortgage loans.

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Definitions:

Negotiable Instrument

A written promise certifying the payment of a certain sum of money, either upon request or at a predetermined date, with the document specifying the individual responsible for payment.

Value

Under the Code (except for negotiable instruments and bank collections), generally any consideration sufficient to support a simple contract.

Qualified Indorsement

An endorsement on a negotiable instrument that limits the liability of the endorser or specifies particular conditions for the endorsement's validity.

Liability

A legal responsibility or obligation, often involving financial compensation, that arises from actions or agreements.

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