Asked by Brenna McPhee on May 27, 2024
Verified
In an unliquidated debt, the parties agree on whether money is owed and agree upon the amount but disagree on the repayment schedule.
Unliquidated Debt
A debt for which the parties either dispute the fact that any money is owed or agree that some money is owed but dispute the amount.
Repayment Schedule
A detailed plan outlining the frequency, amount, and duration of payments owed by a borrower to a lender until the debt is paid off.
- Distinguish between the concepts of liquidated and unliquidated debts, and explore their effects on agreements for accord and satisfaction.
Verified Answer
MW
Morgan WoernerJun 02, 2024
Final Answer :
False
Explanation :
In an unliquidated debt, the parties disagree on whether money is owed, the amount of the debt, or both; it does not specifically refer to disagreements on the repayment schedule.
Learning Objectives
- Distinguish between the concepts of liquidated and unliquidated debts, and explore their effects on agreements for accord and satisfaction.