41 Liquidated debt 42 Unliquidated debt 43 Accord and satisf

41. Liquidated debt 42. Unliquidated debt 43. Accord and satisfaction 44. What happens when a debt is unliquidated 45. If a there is no dispute over the amount of the debt and the debtor offers to pay less than the amount owed does it create an accord. If the debtor pavs an amount less than owed and the creditor accepts is there a satisfaction and can the creditor still sue for the balance it believes is owed? 46. If there is no dispute over the amount of debt or existence of debt and the debtor offers a different form of payment for example a a car as full payment, once the debtor makes a different form of payment, is the debt satisfied and can the creditor collect anything else? 47. If the existence of and the amountr of the debt is in dispute and the debtor offers to pay a sum of money as full payment when the debtor does not believe anything is owed and the creditor agrees------once the debtor pays the money is the debt satisfied and the creditor precluded from collecting additional money. 48. What is meant by capacity? 49. What is the general rule with respect minors entering into contracts/ 50, Disaffirmance of contract

Solution

41. Liquidated Debt is the one which is properly acknowledged and is not disputed by either party to the contract along with the amount due being legally ascertained. Examples include Commercial Paper

42. Unliquidated Debt are the one which have uncertainity as to the amount due as per the terms of the contract and is resolved via legal proceedings. Unliquidated debts become liquidated debts once the legal judgement is pronounced.

43. Every contract have an legal obligation of consideration to be paid.  The accord is the agreement to discharge the obligation and the satisfaction is the legal \"consideration\" which binds the parties to the agreement.

44. When a debt is unliquidated, the issue is resolved via legal proceedings.

45. No he is not entitled to sue for the balance as upon acceptance of payment, a new contract was formed by offer, acceptance, and consideration.

***an expert here is allowed to answer initital 4 questions in case of multi part questions. Though I have solved 5. Hope this helps.***