When a Substandard Loan Is Identified by a Regulator, It

question 115

True/False

When a substandard loan is identified by a regulator, it is required that the loan immediately be charged off by the bank.

---

Definitions:

Mootness Doctrine

A legal principle stating that a court will not hear a case if the issue has already been resolved or is no longer relevant.

Product Liability

Pertains to the legal responsibility of manufacturers, wholesalers, or retailers for injuries caused by defects or dangers in products they make available to consumers.

Unconscionability

A legal doctrine that refers to terms in a contract that are extremely unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Assumption of Risk

A legal doctrine where an individual knowingly exposes themselves to danger and assumes responsibility for any resulting injuries or damages.