Partial payment (original) (raw)
Partial payment refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a "payment-in-full" check is common practice. If the amount tendered is not grossly insufficient, the creditor must decide whether to accept the payment and forfeit the balance, or refuse and try to collect the full amount. Court rulings have treated the tender of such a check as the offer of an accord and satisfaction. If the creditor accepts, endorses, and receives payment from the check, he has accepted the contract, and so discharged the whole debt owed by the debtor.
| Property | Value |
|---|---|
| dbo:abstract | Partial payment refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a "payment-in-full" check is common practice. If the amount tendered is not grossly insufficient, the creditor must decide whether to accept the payment and forfeit the balance, or refuse and try to collect the full amount. Court rulings have treated the tender of such a check as the offer of an accord and satisfaction. If the creditor accepts, endorses, and receives payment from the check, he has accepted the contract, and so discharged the whole debt owed by the debtor. (en) |
| dbo:wikiPageID | 12658762 (xsd:integer) |
| dbo:wikiPageLength | 847 (xsd:nonNegativeInteger) |
| dbo:wikiPageRevisionID | 1092146700 (xsd:integer) |
| dbo:wikiPageWikiLink | dbr:Debt dbr:Debtor dbr:Creditor dbr:Payment dbc:Credit dbr:Cheque dbr:Court_(judicial) |
| dbp:wikiPageUsesTemplate | dbt:Refimprove dbt:Reflist dbt:Wikibooks |
| dcterms:subject | dbc:Credit |
| rdfs:comment | Partial payment refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a "payment-in-full" check is common practice. If the amount tendered is not grossly insufficient, the creditor must decide whether to accept the payment and forfeit the balance, or refuse and try to collect the full amount. Court rulings have treated the tender of such a check as the offer of an accord and satisfaction. If the creditor accepts, endorses, and receives payment from the check, he has accepted the contract, and so discharged the whole debt owed by the debtor. (en) |
| rdfs:label | Partial payment (en) |
| owl:sameAs | freebase:Partial payment wikidata:Partial payment https://global.dbpedia.org/id/4tBdG |
| prov:wasDerivedFrom | wikipedia-en:Partial_payment?oldid=1092146700&ns=0 |
| foaf:isPrimaryTopicOf | wikipedia-en:Partial_payment |
| is dbo:wikiPageRedirects of | dbr:Partial_Payment |
| is dbo:wikiPageWikiLink of | dbr:Anti-Rent_War dbr:Sliding_scale_fees dbr:WeatherVision dbr:Alvin_Hawkins dbr:Johan_Papegoja dbr:Phantom_debt dbr:Partial_Payment |
| is foaf:primaryTopic of | wikipedia-en:Partial_payment |