Practice question
What practice does RA 1405 Section 1 expressly seek to discourage?
- Authorized bank lending.
- Economic development.
- Use of banking institutions.
- Private hoarding of money.
- Every lawful savings account.
Legal references
- RA1405, Section1, purpose of deposit secrecy: https://lawphil.net/statutes/repacts/ra1955/ra_1405_1955.html
- PD1246, preamble and Section2 amending RA6426Section8: https://lawphil.net/statutes/presdecs/pd1977/pd_1246_1977.html
Answer this question in flashcards to review your response and continue practicing.