Loren Files a Suit Against Mabel,alleging a Failure to Pay

question 21

Multiple Choice

Loren files a suit against Mabel,alleging a failure to pay for the harvest of Mabel's orchards.Mabel denies Loren's charge and claims that Loren breached their contract to harvest a certain number of acres and owes Mabel money for the breach.Mabel's claim is

• A)a contrary charge.
• B)a counterclaim.
• C)a counterpoint.
• D)a cross complaint.

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Definitions:

Reserve Requirement

The minimum amount of reserves that a bank must hold against its deposits, as mandated by central banking authorities to ensure liquidity.

Discount Rate

The rate of interest applied to loans given to commercial banks and other financial institutions by their local Federal Reserve Bank's credit facility.

Reserves

refers to funds or materials set aside or saved for future use or emergencies, often in the context of banking or natural resources.

Checkable Deposits

Bank account balances that can be accessed using checks, debit cards, or electronic means to make payments directly.