Consideration and Magnetic ink character recognition: Difference between pages

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1.
(MICR).  
 
Standard used to encode bank/ branch numbers on the bottom of cheques with magnetic ink which is machine readable. This allows cheques to be cleared through automated systems.
''Contract law.''
 
A required element in a contract under English law by which something of value, including a promise, is exchanged for the act or promise of another.
 
Note that other legal systems may differ significantly.
 
For example in Scots law a unilateral undertaking that is intended to have legal effect, such as a promise, is legally binding (without the need for consideration to pass from the recipient of the promise).
 
 
2.
 
More generally, thoughtfulness and sensitivity towards others.
 
 
3.
 
To act with courtesy and consideration is one of the principles of the ACT's Ethical Code.
 


== See also ==
== See also ==
* [[ACT Competency Framework]]
* [[Optical character recognition]]
* [[ACT Ethical Code]]
* [[Transit routing number]]
* [[Consensus in idem]]
* [[Contract]]
* [[Courtesy]]
* [[Quid pro quo]]
* [[Underwriting]]


[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Treasury_operations_infrastructure]]

Revision as of 14:20, 23 October 2012

(MICR). Standard used to encode bank/ branch numbers on the bottom of cheques with magnetic ink which is machine readable. This allows cheques to be cleared through automated systems.

See also


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