What Two Exceptions Did the UCC Create for Accord and Satisfaction

question 26

Essay

What two exceptions did the UCC create for accord and satisfaction check cases?

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Definitions:

Code

A system of principles or rules designed to regulate behavior or activity.

Condition Precedent

A legal term for an event or action that must occur or be completed before a contract becomes effective or before certain obligations are expected to be performed.

Insurance Policy

A contract between an individual or entity and an insurance company, outlining the terms for the insurance company to compensate the insured in the event of a loss.

Notification Requirement

A legal or regulatory condition that requires a party to inform another party or authority about certain information or changes, often within a specified time frame.