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What Are the Two Types of Fraud and What Is

question 18

Essay

What are the two types of fraud and what is the effect of each on the contract involved? Give an example of each type of fraud.


Definitions:

Cash Discount

A deduction from the invoice price that a seller allows a buyer to encourage prompt payment.

Partial Payment

A payment that is made towards a bill or a debt that is not the full amount owed at that time.

Woolen Fabrics

Textile materials made from wool, characterized by their warmth, durability, and softness.

Cash Discount

A reduction in the price of an item for sale, offered in exchange for immediate payment or payment within a short period.

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