Charles wants to buy a John Lennon lithograph over the Internet,but he is unwilling to pay for it until he inspects it to ascertain authenticity.The auction site through which he purchases the painting agrees to hold his money until he tells them to release it to the seller.This is an example of a(n)

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This is an example of an escrow service, where the auction site acts as a neutral third party holding the buyer's payment until the item arrives and is confirmed as genuine by the buyer. This provides a level of protection for both parties in the transaction.

Charles Wants to Buy a John Lennon Lithograph Over the Internet,but