Legal 101 Deposits | June 26, 2023

Employee no.

Last name

Deposits are in the nature of loans made by the bank to the depositor.

• True

• False

The bank may not be held liable to refuse deposits unless it is discriminatory, contrary to laws, morals, and good customs.

• True

• False

The state recognizes the fiduciary nature of banking that requires regular standards of integrity and performance.

• True

• False

BSP conducts regular investigations to determine whether or not a financial institution is conducting its business in a safe and sound basis.

• True

• False

Which does not belong to the group:

Elements of a valid contract

• Consent

• A certain object

• The cause or consideration - or the cause for either party to enter into the contract

• Express or implied

Which does not belong to the group:

Elements of a valid consent

• Legal capacity

• Freely given

• Consent

• Express or implied

Train Law (RA 10963) Tax Reform for Acceleration and Inclusion Act took effect on January 1, 2018

• True

• False

Garnishment is a wage or bank account garnishment occurs when a creditor takes a portion of your paycheck or money from your bank account to collect a debt.

• True

• False