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Credit refers to the ability to borrow funds with the promise to repay, characterized by trust in the borrower's financial reliability and the terms of repayment, including interest rates and deadlines. A contract is a legally binding agreement between parties, defined by its essential elements: offer, acceptance, consideration, and mutual intent to enter into the agreement. Both credit and contracts involve obligations and rights; credit outlines the conditions under which borrowing occurs, while contracts formalize the terms and expectations of any agreement. Together, they facilitate transactions and financial relationships by establishing clear terms and responsibilities.
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What are characteristics of a simple contract?
list the characteristics of a simple contract
How do you explain the working of Letter of Credit?
Explain the significance of letter of credit in international marketing?
What happens when the credit card on file with a company you owe money to is invalid?
They say that I am in contract to pay for everything. They have my credit card and that's it. What can happen if the credit card on file is invalid?
What type of bail is similar to credit contract?
Surety bail is similar to a credit contract, as it involves a third-party guarantor who agrees to pay the bail amount if the defendant fails to appear in court. Just like a credit contract, where one party provides financial backing for another, surety bail requires the guarantor to assess the defendant's risk and potential for repayment. This arrangement often includes fees and conditions, reflecting the responsibilities and obligations typical in credit agreements.
How can you cancel contracts with pre paid credit cards company?
According to my knowledge, prepaid credit cards do not have contracts. The reason being is the credit card is prepaid. This means that the card is already paid for, therefore there is no contract to be signed in the first place.
What are the characteristics of credit?
1. it is a bipartite contract 2. the contract is personal in nature 3. the contract has a pecuniary nature 4. there is the presence of trust and confidence 5. credit is risk 6. futurity 7. creation of legal obligation 8. the transfer of ownership or title
Explain major characteristics institutions and assumption embodied in a market system?
sanctity of contract, private property, voluntary exchange
What is computer and explain its characteristics?
list and explain some important characteristics of a computer?
What are characteristics of a simple contract?
list the characteristics of a simple contract
Explain the characteristics of an entrepreneur?
explain the category and characteristics of netreprenurship
What is a credit risk when entering into a derivative contract?
Credit Risk. Credit risk or default risk evolves from the possibility that one of the parties to a derivative contract will not satisfy its financial obligations under the derivative contract.
How do you explain the working of Letter of Credit?
Explain the significance of letter of credit in international marketing?
Do you still get credit in your phone if you are on a 30 day rolling contract?
If you are on a 30 day rolling contract, you probably have a SIM only deal. Yes you can get credit for such contract.
Explain what is a term in contract?
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Explain the economic characteristics of the command and market economic?
Explain the economic characteristics of the command
4 Explain various storage devices and their characteristics?
Explain various storage devices and their characteristics?
What are the chief characteristics of a contract explain them?
contract is 1. an agreement having 2. force of law. these two are important. but it may also include lawful consideration, free consent of parties, lawful objecctand apties must be competent to contarct . this creats a valid contract. otherwise it may become viod contract or voidable contrac. . . . madeeha_kanwal
