Through the Lend-Lease Bill, Passed in March 1934, "Any Country

question 66

Multiple Choice

Through the lend-lease bill, passed in March 1934, "any country whose defense the President deems vital to the defense of the United States":

• A) could receive American military equipment, supplies, and other necessary materials if they rented them at fair market value
• B) could purchase American military equipment, supplies, and other necessary materials made available through Canada
• C) must declare war on Germany in order to be eligible for American material support
• D) could receive military equipment, supplies, and other necessary materials even if that country lacked the funds to pay for those items
• E) was prohibited from receiving any American military equipment, supplies, and other necessary materials

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Definitions:

Check Collection

The process by which banks handle the clearing of checks, ensuring the transfer of funds from the check writer's account to the recipient's account.

Banking System

The network of institutions, laws, regulations, and practices that deliver financial services including deposit, loan, and payment services.

Drawer

The party that writes and signs a cheque, instructing a bank to pay a specific amount of money to the bearer or a named party.

Drawee Bank

The financial institution upon which a check is drawn and is responsible for paying the amount indicated when properly presented.