true or false?

Question

Regarding an unliquidated debt, the sending of a check in an amount for less than the balance owed and on which the debtor writes "payment in full" will discharge the debt if the check is cashed by the creditor.

Answer 1

I am going to go with the 3rd option. WTH "What the hell?"

I really do not understand this stuff.

I think I understand after reading it 5 times and reading everyone Else's reply 3 times each. My answer will be changed to the 4th option. Unknown/no idea.

Answer 2

Generally, true. A check is somewhat of a contact, meaning that if you accept the check, you accept everything on it, including the notation. The debtor PROBABLY won't cash the check... you will most likely have it returned and be required to pay a late fee... or the debtor will call/contact you and require your admission either by phone or in writting that the check is not for the full amount. If they did cash it, you may have to sue them but stand a good chance at winning.

Answer 3

false. the debtor is not at liberty to condone any amount, the right having been granted by law to the creditor. it will not discharge the whole debt but only to the extent of the value of the check

Answer 4

False.
California, as most states, provides that all the creditor has to do is cross off "payment in full".
Even with not doing that, the creditor just has to inform you the check is accepted as partial payment.
Sorry, your state likely has the same law (Ca Civil Code section 1526)

Answer 5

True, unless notified by the creditor that it was accepted as a part payment.

Answer 6

True, the key is unliquidated debt, (unliquidated) is a dept that the exact amount is unknown.

Answer 7

False.

Answer 8

I always thought that if the person you owed accepted it, then it is paid in full. That's the catch, tho, they have to accept it as such.

Answer 9

False, You can write the constitution on your check if you want!

Answer 10

That;s what I had always heard. Sounds too good to be true though.