A Subsidiary Bank Is

question 4

Multiple Choice

A subsidiary bank is

• A)a locally incorporated bank that is wholly owned by a foreign parent.
• B)a locally incorporated bank that is majority owned by a foreign parent.
• C)a locally incorporated bank that is partially owned (but not controlled)by a foreign parent.
• D)a locally incorporated bank that is wholly (or majority)owned by a foreign parent.

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Definitions:

Offeror

The party making the offer.

Accepted

Acknowledged or agreed upon; typically refers to an agreement or proposal that has been agreed to by all parties involved.

Mailbox Rule

A rule providing that an acceptance of an offer takes effect at the time it is communicated via the mode expressly or impliedly authorized by the offeror, rather than at the time it is actually received by the offeror. If acceptance is to be by mail, for example, it becomes effective the moment it is placed in the mailbox.

Offer

A proposal presented by one party to another as a basis for negotiations in a potential contract.