Explain Why Non-Transactions Accounts Have Become a More Important Source

question 86

Essay

Explain why non-transactions accounts have become a more important source of funds for the bank than transaction accounts over the past thirty years?

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Definitions:

Good Faith

An implied promise to act honestly and not take unfair advantage in transactions.

Primarily Liable

Refers to the party or entity that bears the main responsibility in fulfilling an obligation or debt, without dependence on the failure of another party.

Personal Defenses

Legal defenses used in a lawsuit that are specific to the defendant, often relating to the contract's validity or terms.

Fraud in the Inducement

A deceitful act causing someone to enter into an agreement or contract by misrepresenting material facts or intentions.