Explain How Information Technology and the Flow of Information Play

question 19

Essay

Explain how information technology and the flow of information play a role in accelerating the process of globalization.

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Definitions:

Dishonored Check

A check that a bank has refused to cash or pay because there are insufficient funds in the account on which it was drawn, or because it is considered a fraudulent check.

Contractual Obligation

is a legal duty that arises out of a contract, requiring a party to fulfill the terms of the agreement.

Drawer

Drawer is the party in a bill of exchange, such as a check, who is making the payment, directing the drawee (usually a bank) to pay a specified sum to the payee.

Indorser

A person who signs a negotiable instrument, such as a check or promissory note, on the back, indicating their consent to transfer the document’s ownership or to guarantee its payment.