Individuals who conduct contractual business with banks need to appreciate the importance of the contract and become familiar with their basic rights and obligations,and they should understand that not only is the contract written largely to protect the bank but also their bargaining power is very limited.

Question

Quizplus · Accepted Answer

Contracts with banks are typically standardized to protect the bank's interests, and individual customers often have limited bargaining power due to the standardized nature of these agreements and the disparity in resources and information between the bank and the individual.

Individuals Who Conduct Contractual Business with Banks Need to Appreciate