Lesson plan
Partial payment
Partial payment refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a "payment-in-full" check is common practice. If the amount tendered is not grossly insufficient, the creditor must decide whether to accept the payment and forfeit the balance, or refuse and try to collect the full amount. Court rulings have treated the tender of such a check as the offer of an accord and satisfaction. If the creditor accepts, endorses, and receives payment from the check, he has accepted the contract, and so discharged the whole debt owed by the debtor.
Article summary
Partial payment refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a "payment-in-full" check is common practice. If the amount tendered is not grossly insufficient, the creditor must decide whether to accept the payment and forfeit the balance, or refuse and try to collect the full amount. Court rulings have treated the tender of such a check as the offer of an accord and satisfaction. If the creditor accepts, endorses, and receives payment from the check, he has accepted the contract, and so discharged the whole debt owed by the debtor.
Key claims
No claims recorded.
Discussion questions
- Summarise the article in your own words. Which single claim would you verify first, and why?
- Which claim in this article is most likely to be revised as the sources update? How would you check its current status?
- If two sources disagreed about one of these facts, what would you need in order to trust one over the other?
Bibliography
No sources recorded.
Key claims and bibliography are generated from the same tracked claims and sources as the article page.