What Is the Legal Effect of Using a Credit Card

question 44

Multiple Choice

What is the legal effect of using a credit card?

• A)A cheque is drawn on a financial institution to pay for goods and services purchase by the credit holder.
• B)The vendor selling the product advances credit to the purchaser and the debt is later paid by the card issuer.
• C)The bank undertakes payment on behalf of the card issuer and the amount becomes a debt payable to the card holder.
• D)The card issuer undertakes payment on behalf of the card holder and the amount becomes a debt payable by the card holder to the card issuer.

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Definitions:

Painting

The process or art of using paint to create a picture, design, or decorative coating on a surface.

Middle Managers

Employees who manage the activities of other managers and possibly also staff, positioned between the executive and the frontline managers.

Regular Employees

Workers who are hired on a permanent basis, typically with a full range of benefits, as opposed to temporary or contract employees.

Executives

Senior-level employees of a company or organization, responsible for making key decisions and overseeing operations.