The Introduction of the ATM in the Banking Industry Is

question 42

True/False

The introduction of the ATM in the banking industry is an example of the innovation strategy.

---

Definitions:

Enforceable Accord

An agreement that is legally binding and can be upheld in court.

Consideration

Something of value that is given by both parties to a contract as the agreed-upon price or exchange for the contractual promises.

Valid Consideration

An essential element of a contract, which constitutes something of value exchanged between the contracting parties.

Forbearance

Forbearance is the action of refraining from enforcing a right, obligation, or debt in a legal agreement, usually as an act of leniency by the creditor.