Sam Student had borrowed $1,000 from his cousin. Sam and the cousin became involved in a heated disagreement when the cousin began to press Sam for repayment of the loan. Finally, Sam wrote a check for $190 to the cousin and conspicuously wrote on the check in big letters that it was full and final payment of the $1,000 loan. In need of money, the cousin cashed the check and demanded the remaining $810 from Sam. Sam refused to pay, claiming that they had entered into an accord and satisfaction that discharged Sam's obligation to pay anything more. The cousin sued Sam. Discuss the probable outcome.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q45: To avoid litigation over impossibility and impracticability
Q46: Kentucky Lumber and Millwork Company contracted to
Q47: Bankruptcy results in a discharge of contractual
Q48: If the parties to a contract agree
Q49: In which case will performance on the
Q51: The parties may decide that their contract
Q52: When performance is impeded due to the
Q53: Sales of goods transactions are subject to
Q54: An art collector commissioned an artist to
Q55: V3 was a successful singing group that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents