________ Float Results from the Delay Between the Time When

question 308

Multiple Choice

________ float results from the delay between the time when a customer deducts a payment from the checking account ledger and the time when the vendor actually receives the funds in a spendable form.

• A) Mail
• B) Processing
• C) Collection
• D) Disbursement

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Definitions:

Database Contracts

Contracts that specifically deal with the creation, use, and maintenance of databases, including licensing and access rights.

Unilateral Mistake

In contract law, a mistake made by only one of the contracting parties. Unilateral mistake does not offer sufficient grounds for recession or renegotiation.

Rescind Contract

The process of legally voiding a contract, thereby returning all the parties involved to their original state as if the contract had never occurred.

Firm Offer

In contract law, refers to an offer that remains valid for a specified period during which it cannot be withdrawn by the offeror.