a. 6. Checks, promissory notes and other mercantile/ commercial documents can be used to pay debts. However, they are not considered legal tender. a. True b. False 7. If a creditor refuses to accept payment without valid reason and despite repeated demands from the debtor, the obligation is deemed extinguished. a. True b. False 8. A, B, and Cowe D, E, and F the amount of 900,000. When the obligation becomes due, D may demand payment from A in the amount of 300,000. True b. False 9. D gives 10,000 to C, a minor, in payment of a debt. Closes 2,000 of the money in gambling; spends 2,000 in toys and snacks; gives 3,000 to his playmates and kept the rest of the money in his piggy bank. In this case the payment is valid only to the extent of 8,000.00 a. True b. False 10. X and Y entered into a contract of sale. Y paid by check which X accepted. Seven months after after the date of issue, X presented the check for encashment and found out that the bank had closed due to insolvency. Y's obligation is deemed paid and therefore, extinguished. a. True b. False