Question
On March 1, 2018, Beverly owed $5,000 on her car loan.The lender was a small private company with two employees.The loan was due in full
On March 1, 2018, Beverly owed $5,000 on her car loan.The lender was a small private company with two employees.The loan was due in full on July 15, 2018.On March 15, 2018, Beverly sent a check for $2,500 to the lender marked "in full payment and satisfaction of car loan" in the note section onf the front of the check.The lender cashed the check.Under these circumstances:
a. the lender can sue Beverly for the remaining $2,500.
b. Beverly can avoid paying the remaining $2,500.
c. Beverly has not given consideration for the reduced amount.
d. the lender has not agreed to accept the payment as "payment in full" or satisfaction of the loan.
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