Which of the following is true regarding the effect of a debtor offering to pay a different type of payment,for example,goods instead of money,on a debt for which there is not a dispute over the amount or existence of the debt,and the creditor agrees?
A)A liquidated debt is involved,and there is an accord but no satisfaction.
B)A liquidated debt is involved,and there is not a satisfaction or an accord.
C)An unliquidated debt is involved,and there is an accord but not satisfaction.
D)An unliquidated debt is involved,and there is an accord and satisfaction.
E)A liquidated debt is involved,and there is an accord and satisfaction.

Question

Quizplus · Accepted Answer

A)As recognized in Exhibit 15-3,in a situation involving an undisputed liquidated
debt,there is an accord and satisfaction when a debtor and creditor agree that the debtor will pay a different type of payment than that initially agreed upon as full payment.

Which of the Following Is True Regarding the Effect of a Debtor