Transactions Are Typically Processed, A) All Together for a Defined

question 185

Multiple Choice

Transactions are typically processed, A) all together for a defined time window

• A) Swift processing
• B) Rapid processing
• C) Real-time processing
• D) Instantaneous processing
• E)g. end of a day, shift or other time period) or B) processed as each transaction occurs. The second method B) of processing is called:

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Definitions:

Lack of Consideration

A situation in contract law where there is an absence of a promise, act, or value exchange, rendering the contract unenforceable.

Fraud in the Inducement

A type of fraud involving false representations that lead another to enter into an agreement or transaction.

Breach of Contract

The violation of any agreed-upon terms and conditions in a binding contract.

Stops Payment

A banking term describing the act of a check writer instructing their bank to not honor a specific check that they have written.