In Settling a Liquidated Debt,payment of a Smaller Amount Before

question 46

True/False

In settling a liquidated debt,payment of a smaller amount before the due date would constitute consideration,but paying a lesser amount on the due date at an agreed-upon different place of payment would not be legally sufficient consideration.

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Definitions:

Alternative Dispute Resolution

A range of processes used to resolve conflicts or disputes without resorting to traditional court litigation, examples include mediation and arbitration.

Techniques

Methods or strategies developed to carry out a particular task or to work towards an objective efficiently.

Civil Case

A non-criminal lawsuit in which one party sues another for the recovery of a private right or compensation for a wrong.

Court System

The judicial structure within a country or a state, composed of various courts handling legal disputes and the administration of justice.