Financial Instruments Used Primarily as Stores of Value Do Not

question 80

Multiple Choice

Financial instruments used primarily as stores of value do not include:

• A)Asset backed securities
• B)U.S.Treasury bonds
• C)A car insurance policy
• D)A bank loan

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Definitions:

Past Consideration

Consideration given or action performed prior to the current agreement, which is generally not valid as consideration for a current contract.

Reciprocal Treatment

An approach where actions or attitudes are mutually exchanged or reflected between parties.

Law of Equity

A body of law that provides remedies and relief in situations where strict legal rules would be unfairly rigid, focusing on fairness and justice.

Gratuitous Promise

A vow or commitment to do something for someone else without expecting anything in return.