An Agreement to Settle a Debt for Less Than the Sum

question 19

Multiple Choice

An agreement to settle a debt for less than the sum claimed is referred to as

• A)a promissory estoppel.
• B)an accord.
• C)a satisfaction.
• D)rescission.

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Definitions:

Self-Directed Humor

The practice of making jokes about oneself to communicate humility, approachability, or for self-entertainment.

Competition

The rivalry among businesses or individuals for resources, clients, or market share.

Farsightedness

The ability to understand the long-range implications of actions and policies.

Technological Developments

Refers to advancements and innovations in technology that improve processes, products, or services.