Q1 Which of the following statements, regarding a minor's capacity to contract, are correct? Q2 If a bank obtains a customer's signature on a loan document, by using coercion, misrepresentation, or undue influence, what is the legal status of that contract? Q3 "A contract of guarantee is considered invalid, unless the bank provides separate, direct consideration to the surety." Q4 What is the consequence for a bank, if it provides a loan for a purpose that it knows to be unlawful? Q5 A bank guarantee, which is payable only on the happening of an uncertain event, such as a customer's default, is a classic banking example of a …… contract. Q6 Which of the following procedures are mandatory, when a bank deals with an illiterate customer? Q7 A customer signing a written loan agreement, is an example of an express contract. What is a common example of an implied contract in banking?