The Choice to Send a Letter Rather Than Another Type

question 5

Multiple Choice

The choice to send a letter rather than another type of communication signifies:

• A) cost-effectiveness.
• B) conventionality.
• C) formality.
• D) a need for speedy communication.
• E) an archaic communication method.

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Definitions:

Deposit Agreement

A contract between a customer and a bank setting forth terms and conditions for deposit accounts.

Good Faith

An honest intent to act without taking an unfair advantage over another party, often highlighted in contracts and negotiations.

Ordinary Care

The level of diligence and caution that an average person exercises and is expected to exercise in a specific situation.

Altered Amounts

A term related to the unauthorized modification of the numerical value, conditions, or specifications recorded in a financial document or instrument.