Discharge Applies to the Individual, Not to the Instrument, and a Person's

question 2

True/False

Discharge applies to the individual, not to the instrument, and a person's liability may be discharged with regard to one party but not to another.

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Definitions:

Good Faith

A principle that denotes honesty or sincerity of intention in the fulfillment of one's duties and agreements.

Breach Of Contract

A violation of any agreed-upon terms and conditions in a binding contract.

Cashier's Check

A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.

Service Fee

A charge added to a customer's bill for the provision of a service, which might cover operational costs or service delivery.