ADMS 2610 Lecture 8: Chapter 13

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Or the agreement is discharged in another way: tender the act of performing a contract or the offer of payment of money due under a contract, tender of payment, tender of performance of an act. Tender of payment: buyer"s performance is when payment is offered to the seller at the required time and place fixed for delivery under the contract. Legal tender cannot be refused when offered in payment, providing that it is the exact amount required. If form of payment is not specified legal tender or currency: unless specified, checks, bill of exchange, credit card or others cannot be accepted. If creditor is unwilling to accept payment, the debtor need not attempt payment again: the debtor is not free of the debt, needs to hold the amount of the debt until the creditor later demands payment. If the contract concerns land: seller is unwilling to deliver the deed, purchaser can bring it to court.

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