Until a Jurisdiction Has Enacted Legislation Specifically Allowing It,an Agreement

question 17

True/False

Until a jurisdiction has enacted legislation specifically allowing it,an agreement made over the internet cannot constitute a legally binding contract.

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Definitions:

Aging Schedule

A table or report that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding.

Net Receivables

The total amount of money owed to a company by its customers after accounting for allowances for doubtful accounts.

Credit Sales

Sales made on credit where the payment is received after the service is delivered or the product is sold, thus creating receivables.

Credit Card Service Charge

Fees charged by credit card providers for processing transactions.