On January 1, 1999, A signs a promissory note and binds himself to pay X P100,000 plus 15% per annum interest on June 30, 1999. Before June 30, 1999, X can demand payment IF on June 30, 1999, A is paying X, X can refuse the payment Because the period is for the benefit of the debtor, A can compel the creditor X to accept payment any date before June 30, 1999. Because the period is for the benefit of the debtor and the creditor, X can refuse any rendered payment before June 30, 1999.
On January 1, 1999, A signs a promissory note and binds himself to pay X P100,000 plus 15% per annum interest on June 30, 1999. Before June 30, 1999, X can demand payment IF on June 30, 1999, A is paying X, X can refuse the payment Because the period is for the benefit of the debtor, A can compel the creditor X to accept payment any date before June 30, 1999. Because the period is for the benefit of the debtor and the creditor, X can refuse any rendered payment before June 30, 1999.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On January 1, 1999, A signs a promissory note and binds himself to pay X P100,000 plus 15% per annum interest on June 30, 1999.
Before June 30, 1999, X can demand payment
IF on June 30, 1999, A is paying X, X can refuse the payment
Because the period is for the benefit of the debtor, A can compel the creditor X to accept payment any date before June 30, 1999.
Because the period is for the benefit of the debtor and the creditor, X can refuse any rendered payment before June 30, 1999.
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