Mortgage Bond Types Explained

Summary

A cession is not a type of mortgage bond; it involves transferring rights between parties. A pledge is a mortgage bond where property is security for a debt. The Banks Act regulates public companies taking deposits in South Africa.

Full Conversation

The different types of mortgage bonds do not include: Question 14Answer a. A pledge b. Covering Bond c. Cession d. Indemnity bond
The correct answer is c. Cession.
A cession is not a type of mortgage bond. It refers to the transfer of rights from one party to another.
why not a
A pledge is actually a type of mortgage bond. It involves providing property as security for a debt without transferring ownership. In contrast, a cession is not a mortgage bond but rather the transfer of rights or interests from one party to another.
This Act provides for the regulation and supervision of the business of public companies taking deposits from the public; Question 15Answer a. Banks Act b. National Credit Act c. Consumer Protection Act d. Labour Relations Act
The correct answer is:
a. Banks Act
The Banks Act regulates and supervises the business of public companies taking deposits from the public in South Africa.