Which of the Following Rules Applies with Respect to a Tender

question 6

Multiple Choice

Which of the following rules applies with respect to a tender of payment?

• A)The creditor must tender payment even if the debtor has not asked for it.
• B)A creditor that rejects a proper tender cannot later demand payment of the same debt.
• C)If a debtor pays more than is actually due, the creditor generally must provide "change" for the difference, as long as the "change" does not exceed the limits set by the Currency Act.
• D)A creditor generally must accept any reasonable form of payment, such as cash, credit card, or cheque.
• E)A creditor that rejects a proper tender may be unable to claim interest on the unpaid amount.

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Definitions:

Implementing Agreement

The process of putting a mutually agreed plan or contract into action.

Positive Effects

Beneficial outcomes or impacts resulting from a particular action or set of conditions.

Accommodating

The approach of being willing to adjust actions or decisions to allow for others’ needs, preferences, or interests.

Compromise

A method of resolving differences by each party making concessions to reach a mutually acceptable agreement.