Commercial Law, 2012 Bar — Question 74

MULTIPLE CHOICE

All senior officers of ABC Bank are entitled to obtain a housing loan. X is an Executive Vice President for Operations of ABC Bank. She obtained a housing loan with the ABC Bank. Which statement is most accurate? A) The housing loan of X requires a guarantor from somebody who is not connected with the bank. B) The housing loan of X requires the approval of the Board of Directors of the bank. C) The housing loan of X, being a benefit for employees, does not require (a) but will require (b). D) The housing loan of X, being a benefit for employees, will not require (a) and (b).

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