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Partial payment information


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.[1]

  1. ^ Bills of Exchange Act (R.S., 1985, c. B-4)

and 26 Related for: Partial payment information

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Partial payment

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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...

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Payment

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An initial up-front partial payment for the purchase of an expensive items or service is often referred to as a "down payment"; this is also called...

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Down payment

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Down payment (also called a deposit in British English), is an initial up-front partial payment for the purchase of expensive items/services such as a...

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Discounts and allowances

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typically is unable to meet the desired discount deadline. A partial discount for whatever payment the buyer makes helps the seller's cash flow partially....

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Deposit

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may refer to: Deposit (finance) (also security deposit) A down payment or partial payment in advance Deposit (town), New York Deposit (village), New York...

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Split payment

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only partial information stored in the merchant system. An example of split payment implementation during checkout An example of split payment transaction...

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List of equipment of the Republic of Korea Army

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Zavod  Russia Man-portable SACLOS ATGM 94 mm Given by Russia as a partial payment of debts incurred during the Soviet era; SACLOS sighting device and...

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Invoice

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summary invoice to request a single payment for accrued monthly charges. Progress billing used to obtain partial payment on extended contracts, particularly...

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Offer in compromise

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and the government, and promotes voluntary compliance with all future payment and filing requirements. At least one of three conditions must be met to...

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National Enquirer

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to Griffin by Hearst. It made its debut on September 19, 1926. As partial payment of his loan, Hearst asked Griffin to use the Enquirer as a proving...

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Terence Crawford

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to an April incident at a local car body shop. Crawford had made a partial payment but refused to pay the remainder after he wasn't satisfied with the...

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Informant

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representative from the U.S. State Department congratulates and offers a partial payment to a fully disguised informant whose information led to the neutralization...

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Sliding scale fees

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as charity, their ability to benefit from the revenue even from a partial payment, their retention of a longtime customer/client, or referrals that such...

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Emergency Medical Treatment and Active Labor Act

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than 36 months after the date the patient was discharged or the last partial payment the patient made to the hospital, contractor, or agent. After that...

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Strozzapreti

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states that wives would customarily make the pasta for churchmen as partial payment for land rents (In Romagna, the Catholic Church had extensive land...

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Land contract

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payment is partial payment of the purchase price and partial payment of interest on the unpaid purchase price. This is similar to mortgage payments which...

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Temporary duty assignment

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expenses (particularly your GOVCC bill). This is known as a Scheduled Partial Payment (SPP). You must request, and the AO must approve, SPP before the trip...

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Gus Grissom

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his career in aviation and attend college. Using the G.I. Bill for partial payment of his school tuition, Grissom enrolled at Purdue University in September...

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Mail

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existed, the payment models varied, but most mail was sent unpaid requiring the recipient to pay the postage fee. In some regions a partial payment was made...

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Robert Wagner

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and gave a testimonial about his longtime friendship with him. In partial payment for starring together in the Aaron Spelling and Leonard Goldberg production...

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Bankruptcy

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2010). In most EU member States, debt discharge is conditioned by a partial payment obligation and by a number of requirements concerning the debtor's...

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LeRay Mansion

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George Washington that was able to secure a partial payment.            While James LeRay was pleading for payment on his family's loan, he met and married...

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Payment card number

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A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and...

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Warranty

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which was passed in 1975), if the warranty does not provide full or partial payment of labor (to repair the device or system), it is the owner's choice...

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The Sopranos season 2

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Tony beats him, forcing him to sell his son Eric's car to him as partial payment. Tony tries to give it to Meadow, but she recognizes it as Eric's and...

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Payment card industry

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The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses. The payment card industry consists...

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