Ask Question
BusinessBusiness
Today, 04:43

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

a.? rescission.

b. a satisfaction.

c.? an accord.

d.? a promisory estoppel.

+4
Answers (1)
  1. Today, 07:47
    0
    An agreement to settle a debt for less than is owed is called an Accord and Satisfaction. this is because the accord is the original debt, and the term for the re-structured settlement. The satisfaction is the actual payment of that debt. Therefore, accord and satisfaction could be re-written as new agreement and payment.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An agreement to settle a debt for less than the sum claimed is referred to as? a.? rescission. b. a satisfaction. c.? an accord. d.? a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
John Inc. is a manufacturing business. For a given accounting period, the business's total revenue amounted to $75,000, while its expenses came to $35,000. The total shareholders' equity on the businesses balance sheet was $150,000. What is John Inc.
Answers (1)
Secured debt can be secured by any of the following except?
Answers (1)
A program in which students learn a specific skill for a particular job is called a (n) a. certification program b. dual enrollment program c. school-to-work program d. associate's degree program
Answers (1)
On January 1, 2021, M Company granted 90,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2023, and expire on January 1, 2027.
Answers (1)
You have a workstation connected to a small branch network using a single switch. The network does not have any routers and is no connected to the Internet.
Answers (1)
New Questions in Business
What does SMART stand for in terms of Business Aims and objectives
Answers (1)
Is it legal for south African firms to collude with one another to set prices, provide some evidence in support of your answer
Answers (1)
If berkeley shirtmakers ties compensation directly to output by paying an employee a certain amount for each unit of output produced, it is using
Answers (1)
The dramatic growth in american exports in the last years of the twentieth century was mainly indicative of
Answers (1)
An agreement to settle a debt for less than the sum claimed is referred to as? a.? rescission. b. a satisfaction. c.? an accord. d.? a promisory estoppel.
Answers (1)
Home » Business » An agreement to settle a debt for less than the sum claimed is referred to as? a.? rescission. b. a satisfaction. c.? an accord. d.? a promisory estoppel.
Sign Up Forgot Password?