The Written Confirmation Rule Only Satisfies the Statute of Frauds

question 49

True/False

The written confirmation rule only satisfies the Statute of Frauds requirement if the transaction is between non-merchants.

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Definitions:

Main Bank Account

The primary checking or savings account used by an individual or business for managing their daily financial transactions and cash flow.

Multiple Accounts

Refers to having more than one account, often in financial or online contexts, to manage different aspects.

Disbursement Float

The time delay between when a check is written and when it is actually deducted from the payer's account.

Available Balance

The funds in a bank account that are accessible for withdrawal or use, accounting for any pending transactions.