Parties Involved
Payments may be classified by the number of parties involved to consummate a transaction. For example, a credit card transaction in the United States requires a minimum of four parties (the purchaser, the seller, the issuing bank, and the acquiring bank). A cash payment requires a minimum of three parties (the seller, the purchaser, and the issuer of the currency). A barter payment requires a minimum of two parties (the purchaser and the seller).
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Famous quotes containing the words parties and/or involved:
“Hostesses who entertain much must make up their parties as ministers make up their cabinets, on grounds other than personal liking.”
—George Eliot [Mary Ann (or Marian)
“Men perceive that equating love and domestic work is a trap. They fear that to get involved with housework would send them hurtling into the bottomless pit of self-sacrifice that is women’s current caring roles.”
—Debbie Taylor (20th century)