A Regular Savings Account Is a Demand Deposit

question 107

True/False

A regular savings account is a demand deposit.

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Definitions:

Charter Of Rights And Freedoms

A comprehensive bill of rights embedded in the Constitution of Canada, guaranteeing fundamental freedoms and protections to individuals.

Charter of Rights

A formal document outlining the fundamental rights and freedoms of individuals, typically within a specific jurisdiction.

Freedoms

The rights and privileges that allow individuals to act without restriction or interference from others or the state.

Limitations

Restrictions or caps, such as the time limits within which legal proceedings must be initiated.