_______________ Cards Are a Form of Input Technology

question 38

Short Answer

_______________ cards are a form of input technology. These cards have an embedded microprocessor chip and several kilobytes of memory.

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Definitions:

Negotiation

The process of discussing terms in order to reach a mutual agreement, often in the context of contracts or dispute resolutions.

Assignment

The transfer of rights, property, or responsibilities from one party to another, either permanently or temporarily.

Contractual Liability

The responsibility and obligations that a party is subject to under the terms of a contract.

Without Recourse

A phrase indicating that the holder of a financial instrument cannot demand payment from the originator if the instrument fails to pay.