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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A customer places money in an ordinary savings account and says the account necessarily makes the customer a co-owner of every loan the bank later grants. Is that correct?

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No; the ordinary deposit creates a debt owed by the bank, not automatic ownership of each bank asset. Yes, ownership depends only on the passbook's color. Yes, all depositors become partners in every loan. Yes, every deposit is an equity subscription.

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