Define Money and List Its Functions

question 376

Essay

Define money and list its functions.

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Definitions:

Privity of Contracts

A principle that contracts are private agreements between the parties who have entered into them, and typically, only those parties have rights or liabilities under the contract.

Statutory Assignment

Refers to the legal transfer of rights from one party to another as prescribed by statute.

Statutory Assignment

The transfer of legal rights from one party to another under the terms of a statute or law.

Windfall

An unexpected gain or advantage, often in the form of money or goods, that is not anticipated or earned through work.