A creditor has agreed to accept an offer of a lesser sum as full payment for a debt.This payment will legally discharge the debt if it is made:

Question

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Accepting a lesser sum before the agreed date the original debt had to be repaid can constitute a valid consideration, thus legally discharging the debt. This is because the early payment can be seen as a benefit to the creditor.

A Creditor Has Agreed to Accept an Offer of a Lesser