Commerce depends on a vast number of financial transactions that distribute funds amongst participants such as merchants, customers, companies, and other entities. Traditional methods of conducting financial transactions consist of an exchange of currency, which may include paper currency, checks, credit cards, and electronic transfers. With each type of currency, a number of processes are typically necessary to fulfill a transaction. The processes may include a payment fulfillment process, paperwork, and processes performed by a financial institution such as a bank, credit union or third-party processor in communication with financial institutions.
In addition, some financial transactions have moved online. For instance, it is commonplace for entities to transfer payments across the Internet to complete a transaction. In addition to the Internet, other electronic forms of communication enable payment transmission,Mildred Leake's car collided, killing McFarland. In the complaint, the plaintiff/appellant specifically alleged that the sole cause of the accident was Leake's negligence in operating her car, and as a result McFarland's estate was entitled to two million dollars in actual damages and five million dollars in punitive damages for physical and mental pain and suffering experienced by the deceased, for loss of future earnings, and for loss of companionship and society, among other things. In November 1997, Leake filed a motion for summary judgment, which the judge granted after a hearing. On behalf of the estate of the deceased, Gordon McFarland argues on appeal that the judge erred in finding no genuine issue of material fact existed as would defeat Leake's motion for summary judgment. We review