MERCANTILE LAW Briefly describe the following types of banks: (2% each) universal bank SUGGESTED ANSWER: A universal bank is a commercial bank with two additional powers, namely: (1) the power of an investment house and (2) the power to invest in non-allied enterprises (Section 23, Rep. Act No. 8791, “The General Banking Law of 2000”). … Continue reading Bar Exam 2010 Questions and Suggested Answers in MERCANTILE LAW by the UP Law Center