The debtor does not pay the creditor in full, but both creditor and debtor agree that the

Fantastic news! We've Found the answer you've been seeking!

Question:

The debtor does not pay the creditor in full, but both creditor and debtor agree that the amount paid back is enough to take care of the whole debt. This is called:

a. agreement and compromise

b. accord and satisfaction

c. concurrence and completion

d. deal and fulfillment

Related Book For answer-question

Legal Environment

ISBN: 978-1133587491

5th edition

Authors: Jeffrey F. Beatty, Susan S. Samuelson

See More Books

Posted Date: Feb 01, 2024 02:30 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
James was delivered at 39 weeks in a planned delivery. He was the largest of my babies, weighing 8 pounds, 4 ounces, and measuring 21.5 inches. He had a raspy cry, a full head of hair, and very light...
Alpha Appliance Service had net income for the year of $ 35,000. In addition, the balance sheet reports the following balances: Calculate the return on assets (ROA) for Alpha Appliance Service for...
Let A and B be the following matrix: And Find AB by partitioning A and B in two different ways. 2 1 3427 12 3- 4 5 1 326 2-1 357] 11371 42256 33434 21512 12123
Facts from The Story of Stuff In the past three decades, one-third of the planet's natural resources base have been consumed.1 In the United States, we have less than 4% of our original forests left....
Although they should be considered independently, investing and financing decisions are often considered together. Consider the case of a consumer acquiring a new car. The consumer can purchase a car...
Hahn Hardware provides the following information relating to its June inventory activity. Hahn uses a perpetual inventory system. Required a. Put Hahn's given information into a cost of goods sold...
Pinduoduo(PDD) is trying to issue a 5-year note. Because it is a Chinese firm listed in the US, it wants to test the eurobondmarket by considering raising money in USD.The current exchange rate...
The gecko is a reptile with an amazing ability to climb smooth surfaces, including glass. Recent discoveries indicate that geckos stick to smooth surfaces via van der Waals interactions between...
Beatrice is a salesperson for Insuratech. Jack denies Beatrice a promotion because Jack believes that Beatrice does not act femininely enough at work and when selling Insuratech products to clients....
ToyJoy! estimates that customers will be granted 2,600 in refunds of this year's sales next year and the merchandise expected to be returned will have a cost $2,000. How would I journalize the...
When evaluating a project, the general rule is that if the NPV is positive, you should accept the project; if it is negative, you would reject the project. From the reading this week, we also learned...
When his income falls from $52,000 to $38,000, Victor increases his monthly purchase of Hamburger Helper from 8 boxes to 10 boxes. From the midpoint, Victor's income elasticity of demand for...
What is 3rd normalization form and explain about the 3rd normalization form .
A representative of a brokerage firm declares that retained earnings should be the first source of financing for a company, since they have no cost. Do you agree with this statement? How does it...
What are the main factors that influence economic growth? How does the government use fiscal and monetary policy to manage the economy? What are the different types of economic systems, and what are...
The column shown in the figure is fixed at the base and free at the upper end. A compressive load P acts at the top of the column with an eccentricity e from the axis of the column. Beginning with...
Railroad issued a check to Parris which, somehow, came to be in Eddys possession. Eddy indorsed the check Railroad Eddy and deposited it in his own account at Bank. Parris sued Bank, alleging that it...
Van is brought to the police station for questioning about a shooting at a mall. The police read him his Miranda rights. For the rest of the three hour interrogation, he remains silent except for a...
1. A sole proprietorship: (a) Must file a tax return (b) Requires no formal steps for its creation (c) Must register with the secretary of state (d) May sell stock (e) Provides limited liability to...
For binary diffusion with convection, use Eqs. (15-15e), (15-15f), (15-17a), (15-17b), and sum of mole fractions equals 1.0 to show that $D_{\mathrm{AB}}=D_{\mathrm{BA}}$. Fick's law diffusive flux...
For binary distillation with $\mathrm{CMO}, \mathrm{v}_{\text {ref,mol }}=0$. If $\mathrm{CMO}$ is valid, show that $\mathrm{v}_{\text {ref,mass }} eq 0$ if \(\mathrm{MW}_{\mathrm{A}} eq...
Derive Eq. (15-40a). Equation (15-40a) KPL.mol 1-C3XA.I.mol PL.mol NA,mol In C3=1+ C3 1-C3XA.bulk,mol. PS,mol

The debtor does not pay the creditor in full, but both creditor and debtor agree that the

Question:

Expert Answer:

The detailed answer for the above question is provided below b accord and sa... View the full answer

Legal Environment

Students also viewed these accounting questions