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:

International Trade Agreements

Legal accords between countries that dictate the terms and conditions of trade between them.

Counterfeit

Goods that are made or sold under another's brand name without the brand owner's authorization.

General Partnership

A business owned by two or more people who have made a decision to comanage and share in the profits and losses.

Liable

Being legally responsible for something, typically involving financial compensation or obligations.