Wednesday, November 6, 2019

In a[n] ______ debt, the parties either dispute the fact that any money is owed or agree that some money is owed but dispute the amount.

Which of the following is true regarding whether an accepted offer to pay part of a debt is consideration? 
A. Partial payment is consideration under all circumstances.
B. Partial payment is not consideration under any circumstances.
C. Partial payment is consideration if a liquidated debt is involved.
D. Partial payment is consideration if an unliquidated debt is involved.
E. Partial payment is consideration if either a liquidated or an unliquidated debt is involved.
In a[n] ______ debt, there is no dispute about the fact that money is owed and the amount of money owed. 
A. Actual
B. Acknowledged
C. Certain
D. Liquidated
E. Unlilquidated
In a[n] ______ debt, the parties either dispute the fact that any money is owed or agree that some money is owed but dispute the amount. 
A. Disputed
B. Unacknowledged
C. Uncertain
D. Liquidated
E. Unliquidated
Which of the following represents an accord and satisfaction? 
A. When a dispute over an unliquidated debt is settled and paid for less than the full amount.
B. When a dispute over a liquidated debt is settled and paid for less than the full amount.
C. When a dispute over an unliquidated debt is settled and paid for the full amount.
D. When a dispute over a liquidated debt is settled and paid for the full amount.
E. When a dispute over either an unliquidated or liquidated debt is settled and paid for less than the full amount.
When an accord and satisfaction is at issue, the ______ is the new agreement to pay less than the creditor claims is owed. 
A. Satisfaction
B. Accord
C. Both satisfaction and accord
D. Written compromise
E. Written acknowledgement
When an accord and satisfaction is at issue, the ______ is the payment, by the debtor, of the reduced amount. 
A. Satisfaction
B. Accord
C. Both satisfaction and accord
D. Fund transfer
E. Bond
Which of the following is true regarding an accord and satisfaction? 
A. When amounts agreed upon are paid, the debt is fully discharged.
B. When amounts agreed upon are paid, the debt is fully discharged except for any late charges due on the initial indebtedness.
C. When amounts agreed upon are paid, the debt is fully discharged except for any interest due on the initial indebtedness.
D. When amounts agreed upon are paid, the debt is fully discharged except for any late charges and any interest due on the initial indebtedness.
E. When amounts agreed upon are paid, the debt is fully discharged except for any late charges or interest due on the initial indebtedness, or attorney fees of the creditor that are due.

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