Which of the Following Rules Applies with Respect to a Tender

question 33

Multiple Choice

Which of the following rules applies with respect to a tender of payment?

• A) If a debtor pays more than is actually due, the creditor generally must provide "change" for the difference, as long as the "change" does not exceed the limits set by the Currency Act.
• B) A creditor that rejects a proper tender may be punished by an inability to claim interest.
• C) The creditor must tender payment even if the debtor has not asked for it.
• D) A creditor generally must accept any reasonable form of payment, such as cash, credit card, or cheque.
• E) A creditor that rejects a proper tender cannot later demand payment of the same debt.

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Definitions:

Oceanic Crust

The portion of the Earth's crust that underlies the ocean basins, composed predominantly of basalt and gabbro.

Lavas

Magma that has been expelled from a volcanic vent and has solidified on the Earth's surface.

Magmas

Molten rock material beneath or within the Earth's crust, from which igneous rock is formed through cooling and solidification.

Mid-ocean Ridges

Underwater mountain ranges formed by plate tectonics, where new oceanic crust is created through volcanic activity along divergent plate boundaries.