Adrian is as he has lost his lob comer, Neo, has come into the bank. Neo has a mortgage loan with the bank. Neo claims he has lost his job and will not be able to pay the loan back. His monthly payment is $1,000. Neo offers Adrian $7,500 as an accord and satisfaction. Can Neo enter into an accord and satisfaction with the bank? If not, how can he extinguish his liability to the bank?

Answer rating: 100% (QA)

Neos offer of 7500 as an accord and satisfaction to settle his mortgage loan with the bank may not be sufficient to enter into an accord and satisfact... View the full answer