BUS2 531 Lecture Notes - Lecture 13: Academy Of Social Sciences, Electronic Signature, Cheque
Document Summary
Video about bitcoin is in the regulatory module. They talk about failed payment transactions something went wrong. Main reasons for failed payment transactions: fraud, system failures/errors, human errors. Liabilities come at take when there are failures. The cases are exceptional we get to use the knowledge we acquire. The three cases are about cheques, but failed payment transactions are not limited to cheques: e. g. credit card data breach, e. g. Cheques and bills of exchange: what they are. They are instruments in writing, written order to pay, invented in the middle ages. Payor = drawer gives an order to pay to its bank that has his fund = drawee pay a payee. 165 (1) a cheque is a bill drawn on a bank, payable on demand. Cheques are a form of bill of exchange. You are a hunter, supplier of fur.
