Discharge of Duties · Bar Exam · Flashcards

QUESTION

The parties genuinely dispute whether $5,000 or $3,000 is owed. The debtor sends a $3,000 check conspicuously marked 'payment in full,' and the creditor cashes it. What is the effect?

QUESTION

A debtor owes an undisputed $1,000 due June 1. The creditor agrees to accept $600 paid on May 1 in full satisfaction. What supplies consideration for discharging the balance?

QUESTION

The parties genuinely dispute whether $5,000 or $3,000 is owed. The debtor sends a $3,000 check conspicuously marked 'payment in full,' and the creditor cashes it. What is the effect?

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