Which of the Following Is True Regarding an Accord and Satisfaction

question 16

Multiple Choice

Which of the following is true regarding an accord and satisfaction?

• A) When amounts agreed upon are paid, the debt is fully discharged.
• B) When amounts agreed upon are paid, the debt is fully discharged except for any late charges due on the initial indebtedness.
• C) When amounts agreed upon are paid, the debt is fully discharged except for any interest due on the initial indebtedness.
• D) When amounts agreed upon are paid, the debt is fully discharged except for any late charges and for any interest due on the initial indebtedness.
• E) When amounts agreed upon are paid, the debt is fully discharged except for any late charges or interest due on the initial indebtedness, or attorney fees of the creditor that are due.

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Definitions:

Base Year

A point of reference year used for comparative purposes, especially in economic indices and statistics.

Laspeyres (Fixed-Weight) Price Index

A method of calculating price changes over time, using the quantities of the base year as weights.

Energy Costs

These are expenses associated with the consumption of energy, including costs for fuel, electricity, natural gas, and other energy sources.

Housing Costs

Expenses related to owning or renting a home, including mortgage payments, rent, utilities, maintenance, and property taxes.