Keyword Analysis & Research: payment

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Frequently Asked Questions

What is payment definition?

noun something that is paid; an amount paid; compensation; recompense. the act of paying. reward or punishment; requital.

Does a payee make the payment or receives the payment?

A payee is a person or organization that receives payment for goods or services. Payment can be in any form, including cash, a check, a money order, or an electronic transfer of funds. You typically encounter payees when banking. On a check, the payee is the person or organization to whom the check is written.

What are the modes of payment?

mode of payment. 1. Means by which a payment is made, such as cash, check, or credit card. 2. Frequency with which a sum is paid, such as monthly, quarterly, or annually.

What is the legal definition of payment?

Payment Terms Law and Legal Definition. Payment terms are conditions of payment on the basis of which a sale is made by the seller. These terms specify the period granted to a buyer to pay off the sale amount due. Payments can be made in many ways.

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