On January 1, 2006, Bev owed City Bank $5,000 on her car loan. The loan was due in May 2006. On January 1, 2006, Bev sent the bank a check for $4,800 marked "In full payment for any and all claims City Bank has against me." City Bank cashes the check. Under these circumstances, ________.
A. Bev has not given consideration
B. Bev can avoid paying the $200
C. City Bank has not promised to accept the payment as "payment in full"
D. City Bank can sue Bev for $200
Answer: B
You might also like to view...
The issue price of a bond is based on the_____________of the cash flows that the bond will produce
Fill in the blank(s) with correct word
A company was the victim of several frauds that totaled approximately $10 million in one year. With a profit margin of 10 percent, and assuming that the company's product sold for $1,000 per unit, how many additional units must the company sell to compensate for the fraud losses?
a. 1 million b. 100 million c. 100,000 d. 10,000
An organization that attempts to increase the revenue-producing space within which it provides guest experience at the expense of essential but non-revenue producing space will most likely ______.
a. have a memorable service setting, but unreliable delivery system b. have a dull service setting, but excellent delivery system c. maximize its per capita revenue d. be top rated in customer service
______ questions, also known as probing questions, follow up on primary questions.
Fill in the blank(s) with the appropriate word(s).