A creditor's promise to accept less than the amount owed as full payment of a debt is legally binding.
Correct Answer:
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Q15: Benson orally promised to give his nineteen-year-old
Q16: Consideration may be
A) money.
B) property.
C) a promise
Q17: A debtor who makes a part payment
Q18: Courts will not enforce contracts calling for
Q19: Consideration can be
A) a benefit to the
Q21: A creditor's agreement to accept part payment
Q22: Part payment of a liquidated claim
A) discharges
Q23: Past consideration
A) is synonymous with moral consideration.
B)
Q24: The Wurzer Corporation entered into a written
Q25: If a person owes several people money,
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