If a Debtor with Multiple Debts Specifies the Debt to Which

question 39

True/False

If a debtor with multiple debts specifies the debt to which a payment is to be applied and the creditor accepts the money, the creditor is bound to apply the money as specified.

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Definitions:

Q-Sort Procedure

A method used in psychology to study individual's viewpoints, personality, or attitudes by sorting a set of statements according to criteria on a scale.

Self-Discipline

The ability to control one's feelings and overcome one's weaknesses by adhering to a set of rules or a code of behavior.

Conscientiousness

A fundamental personality trait characterized by organization, dependability, efficiency, and goal-directed behavior.

Altruism

A selfless concern for the well-being of others, often resulting in acts of kindness or generosity without expectation of personal gain.