Which of the Following Is True Under the UCC Regarding

question 32

Multiple Choice

Which of the following is true under the UCC regarding checks marked "paid-in-full"?

• A) If a business inadvertently cashes such a check, the business has 30 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• B) If a business inadvertently cashes such a check, the business has 60 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• C) If a business inadvertently cashes such a check, the business has 90 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• D) If a business inadvertently cashes such a check, the business has 120 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• E) The business has no recourse, and the debt is deemed discharged and satisfied.

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Definitions:

Evasion

The act of avoiding something undesired, such as responsibilities, questions, or physical obstacles, often through skill or deceit.

Bilateral

Involving two sides or parties, often referring to agreements, communications, or relationships that involve direct interaction between two individuals or groups.

Persuasion

The act or process of influencing someone's thoughts, beliefs, or actions through argument, reasoning, or appeal.

Bargaining

A negotiation process between two or more parties where compromises are made to reach a mutual agreement.