Legal Question in Banking Law in Connecticut

check endorsements

I have received a payment by check with the following endorsement on the front- Final Payment-Paid in Full-2006 Account.

This check was received by our lock box and deposited.

Is this truly a payment in full even though a balance remains?


Asked on 4/16/07, 11:18 am

1 Answer from Attorneys

Peter Van Dyke Eagan, Donohue, Van Dyke, & Falsey, LLP

Re: check endorsements

It depends on the nature of the transaction. There is an equitable defense called accord and satisfaction that may preclude you from collecting the balance if the debt is disputed. I'd be happy to discuss this with you in more detail. There is no fee for this consultation.

Peter

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Answered on 4/16/07, 11:30 am


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