Business Transactions That Do NOT Involve the Payment or Receipt

question 51

Short Answer

Business transactions that do NOT involve the payment or receipt of cash are considered to be __________ transactions.

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Definitions:

Claim for Damages

A formal request for monetary compensation due to loss or injury claimed to have been caused by another party.

Constructive Fraud

Conduct that is treated as fraud under the law even when there is no proof of intent to defraud, usually because of the existence of a special relationship or fiduciary duty.

Fraudulent Intent

The deliberate intention to deceive another party for unlawful gain or to deprive a victim of a legal right.

Privity

The relationship between parties that are legally participating in the same transaction or agreement.