Chapter 11-Vocab Flashcards
(5 cards)
0
Q
Promisee
A
The person to whom a promise is made
1
Q
Promisor
A
The person who makes a promise
2
Q
Liquidated debt
A
A debt in which there is no dispute about the amount owed
3
Q
Unliquidated debt
A
A debt that is disputed because the parties disagree over its existence or amount
4
Q
Accord and satisfaction
A
A complete agreement to settle a debt for less than the sum claimed
