Given the Prevalence of Electronic Payment Mechanisms Like Credit Cards

question 49

Essay

Given the prevalence of electronic payment mechanisms like credit cards and debit cards and the safety of checks, why is the amount of currency in the hands of the public increasing?

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Definitions:

Scheme

A structured plan or arrangement of ideas or actions intended to achieve a specific goal.

Last-Clear-Chance

A doctrine in tort law that allows a plaintiff to recover damages even if they were partly at fault, under the condition that the defendant had the final opportunity to avoid the accident.

Contributory Negligence

A legal doctrine under which a party can be found to be at fault for their own injury if they contributed to the cause of their harm, potentially limiting or eliminating their right to compensation.

Plaintiff

The party who initiates a lawsuit seeking legal remedy from another party, the defendant, for some injury or damage.