 #1 (permalink) Mon Sep 03, 2007 10:55 am What is an escrow? |
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 Business English Lesson, Advanced Level
ESL/EFL Test #417 "Asset Ownership", question 1
......... receipt is issued by an approved depository to a clearing corporation on behalf of an investor evidencing ownership of the underlying call, interest, stock or bond; upon assignment, the depository agrees to deliver the underlying property to the clearing corporation against the aggregate assignment value.
(a) A credit
(b) An escrow
(c) A retainer
(d) A trustee
Business English Lesson, Advanced Level
ESL/EFL Test #417 "Asset Ownership", answer 1
An escrow receipt is issued by an approved depository to a clearing corporation on behalf of an investor evidencing ownership of the underlying call, interest, stock or bond; upon assignment, the depository agrees to deliver the underlying property to the clearing corporation against the aggregate assignment value.
Correct answer: (b) An escrow
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What is an escrow?
Christine |
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Christine
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