Identify/define and Explain the Significance of the Following: St.Petersburg

question 55

Essay

Identify/define and explain the significance of the following: St.Petersburg.

---

Definitions:

Oral Agreement

An agreement or contract that is made through spoken communication between parties, rather than in written form, but is still legally binding.

Casino Credit

A line of credit extended by a casino to a patron, allowing them to gamble without using cash.

Bad Checks

Checks that cannot be processed because the account on which they were drawn lacks sufficient funds, leading to legal and financial consequences for the issuer.

Oral Negotiable Instrument

A verbal agreement that is intended to have the same enforceability as a written negotiable instrument, though legally this is often not recognized.