BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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security deposit.
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warranty
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bailment
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deed
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Detailed explanation-1: -Security deposits must be deposited by the landlord in a trust account, maintained by the landlord for the purpose of holding such security deposits for tenants of the landlord, in a financial institution as defined by RCW 30.22.
Detailed explanation-2: -Concept: Security deposit: It is an amount of money which shall be deposited by the contractor whose tender has been accepted in order to render himself liable to the department to pay compensation.
Detailed explanation-3: -A security deposit is a refundable deposit that serves as collateral for the secured credit card. The credit card issuer holds the deposit and only uses it if you default on your credit card balance. It’s important to understand that you can’t use your security deposit to pay your monthly credit card bill.