On January 1,2006 Bev owed $5,000 on her car loan.The loan was due in May 2006.On January 1,2006,Bev sent the lender a check for $4,000 marked "in full payment" of the loan.The lender cashes the check.Under these circumstances:

Question

Quizplus · Accepted Answer

If Bev had paid early (before the loan contract called for payment),or at a different place from that called for in the loan contract,or in a different medium of exchange from that called for in the loan contract,she has given consideration and can enforce the promise.

On January 1,2006 Bev Owed $5,000 on Her Car Loan