Practice question
A borrower offers an officer a payment to influence approval; the officer refuses and never accepts it. The borrower argues Section 55 has no possible application because acceptance did not occur. Which is correct?
- Every refused offer is automatically lawful
- Only completed acceptance is mentioned anywhere
- Section 55.2(d) separately prohibits the borrower’s influence-oriented offer; refusal does not erase that distinct act.
- The officer must accept before any offer can exist
- No borrower is ever covered by the Act
Legal references
- General Banking Law, RA 8791, Sections 3, 55, 87-88 and 92-93: https://lawphil.net/statutes/repacts/ra2000/ra_8791_2000.html
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