X owed Y a debt in the amount of $1,000. The debt was payable on June 1
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Question:
X owed Y a debt in the amount of $1,000. The debt was payable on June 1st. X offered Y the sum of $900 on the due date as payment in full.Y accepted the $900 but then asked for the remaining $100.00 owing.Y says that, at Common Law, Y would be entitled to collect the remaining $100 even though he accepted the lesser sum as payment in full on the due date.Is this true?If yes, explain why.
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