Which of the Following Is the Best Description of the Golden

question 16

Multiple Choice

Which of the following is the best description of the Golden Rule of statutory interpretation?

• A)It is necessary for the court to look at the law before the statute was passed because the meaning and intention of language used in the Act is unclear.
• B)The meaning and intention of language used in the Act is unclear so it is necessary to read the act in its entirety and ask 'What mischief is this statute intended to remedy?'.
• C)The meaning and intention of language used in the Act is clear and it is the court's duty to apply it.
• D)It is necessary for the court to determine the meaning of a statute because the language used in the Act is either at odds with the legislator's intention,or applying it literally would lead to absurdity,injustice or repugnance.

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Definitions:

FDIC

The Federal Deposit Insurance Corporation, a United States government agency that provides deposit insurance to depositors in US banks.

Financial System

The set of processes and mechanisms that enable the transfer of money between savers, borrowers, and investors.

Federal Reserve

The central banking system of the United States, responsible for monetary policy and regulation of financial institutions.

State Banking Agencies

Governmental bodies at the state level that regulate and oversee banking institutions and their operations within that state.