Parker owed Andrew a debt in the amount of $1,000.The debt was payable on June 1.
-If Parker offered Andrew the sum of $900 on the due date as payment in full,at Common Law,Andrew would be entitled to collect the remaining $100 even though he accepted the lesser sum as payment in full on the due date.

Question

Quizplus · Accepted Answer

At Common Law, the acceptance of a lesser sum on the due date does not discharge the entire debt unless there is some new consideration or agreement. Andrew can still claim the remaining $100.

Parker Owed Andrew a Debt in the Amount of $1,000