Which of the Following Is True Regarding a Valid Accord

question 53

Multiple Choice

Which of the following is true regarding a valid accord and satisfaction?

• A) When amounts agreed upon are paid, the debt is fully discharged.
• B) When amounts agreed upon are paid, the debt is fully discharged except for any late charges due under the original agreement.
• C) When amounts agreed upon are paid, the debt is fully discharged except for any interest due under the original agreement.
• D) When amounts agreed upon are paid, the debt is fully discharged except for any late charges and any interest due under the original agreement.
• E) When amounts agreed upon are paid, the debt is fully discharged except for any late charges or interest due under the original agreement, or for attorney fees of the creditor that are due.

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Definitions:

Unique-Event

A singular occurrence that is distinct in nature, not expected to repeat under normal circumstances.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Bullwhip Effect

A phenomenon in supply chains where small fluctuations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.

Order Size

The quantity of goods a company purchases or produces in a single order to meet its demand while minimizing costs.