If a Check Is Marked "Paid in Full," Which of the Following

question 90

Multiple Choice

If a check is marked "paid in full," which of the following is true under the UCC?

• A) If a business inadvertently cashes such a check, the business has 30 days from the date it cashed that check to offer repayment in the same amount to the debtor to avoid an accord and satisfaction.
• B) If a business inadvertently cashes such a check, the business has 60 days from the date it cashed that check to offer repayment in the same amount to the debtor to avoid an accord and satisfaction.
• C) If a business inadvertently cashes such a check, the business has 90 days from the date it cashed that check to offer repayment in the same amount to the debtor to avoid an accord and satisfaction.
• D) If a business inadvertently cashes such a check, the business has 120 days from the date it cashed that check to offer repayment in the same amount to the debtor to avoid an accord and satisfaction.
• E) The business has no recourse, and the debt is deemed discharged and satisfied.

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Definitions:

Reputation

The beliefs or opinions that are generally held about someone or something, often based on past actions or performances.

Cross-Situational Consistency

The concept that an individual's behavior tends to be consistent across different situations and contexts.

Self-Fulfilling Tendencies

The phenomenon whereby a person's expectation or belief about a situation or themselves leads to its actualization or enactment.

Social Expectancies

Norms or beliefs about how people are supposed to behave in certain social situations, influencing interactions and perceptions.