Payment
Payment is defined as "the partial or complete discharge of
an obligation by its settlement in the form of the transfer
of funds, assets, or services equal to the monetary value
of part or all of the debtor's obligation". Payment is an
act of giving a sum of money after getting the work done.
In other words money is given for carrying out what has
been promised. You get a salary as a payment for your work
for a period of a month, a day or fortnight. Whenever you
purchase something or dine out in restaurants, don't you
pay the retailer or the restaurateur finally to end the
deal. This called payment as you pay for the services
availed. From barter system in early period to this modern
ag...
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