If You Were Taking Out a Personal Loan, the Highest

question 82

Multiple Choice

If you were taking out a personal loan, the highest rate would probably be charged by a

• A) commercial bank.
• B) finance company.
• C) member of your family.
• D) credit union.

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Definitions:

Plot Land

A marked piece of land designated for a specific use, such as construction, gardening, or other forms of development.

Mailbox Rule

A legal principle in contract law that states an offer is considered accepted at the moment the acceptance is mailed, rather than when the acceptance is received by the offeror.

Receipt Stipulation

An agreement or acknowledgment documenting the receipt of something, often used in legal contexts to prove the acceptance of documents or payments.

Mailbox Rule

A legal principle stating that an offer is considered accepted at the time the acceptance is sent through the mail, not when it is received by the offeror.