Statutory Regulation Refers To

question 1

Multiple Choice

Statutory regulation refers to:

• A) rule-making by legislation.
• B) rule-making in which the state dominates.
• C) rule-making by a state agency.
• D) substantive and procedural rules.

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Definitions:

Usurious Rate

An interest rate charged on a loan that exceeds the legal limit set by law.

Principal

The main party to a transaction or contract, responsible for its fulfilment.

Interest

The cost of borrowing money, represented as a percentage of the total amount loaned, or the revenue from lending money.

Public Office

An office held by a member of the public sector that usually involves duties, responsibilities, and powers determined by a governmental entity or law.