What is the remedy of the debtor if the creditor to whom tender of payment has been validly made refuses without just cause to accept it?If the creditor to whom tender of payment has been made refuses without just cause to accept it, the debtor shall be released from responsibility by the consignation of the thing or sum due.
Who is the person to whom payment must be made?payment, the performance of an obligation to pay money. A person under such an obligation is called a debtor, and a person to whom the obligation is owed is called a creditor. The obligation may arise in various ways, but it is most commonly the result of a commercial transaction or contract between the parties.
What is an example of an accord and satisfaction?Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
What is the effect when payment is made without the knowledge of or against the debtor's will?If the payment is without the knowledge or against the will of the debtor, the third person cannot compel the creditor to subrogate him in the latter's accessory rights of mortgage, guaranty, or penalty.
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