How Were Financial Transactions Completed During the Early Middle Ages

question 15

Multiple Choice

How were financial transactions completed during the early Middle Ages?

• A)through the exchange of consumable or desirable items
• B)with valuable coins passed from person to person
• C)with paper money given to workers by employers
• D)with IOUs written for when the economy rebounded
• E)through taxes collected and then redistributed to those owed money

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Definitions:

Express Conditions

Specific stipulations or criteria that are clearly stated and must be met for a contract or agreement to be fulfilled.

Implied Conditions

Terms and stipulations that are not expressly stated but are understood to be included within a contract or agreement.

Condition Subsequent

In a contract, a future event that terminates the obligations of the parties when it occurs.

Conditional Contract

A contract that becomes enforceable only upon the occurrence of certain conditions or the performance of a particular act.