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Originally Posted by Randy
Quote:
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Originally Posted by Jerseee
Which means to send them a CPN for the full amount and ask for verification at the same time.
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But a CPN isn't really "payment." Is it? But the "promise" to pay is based upon the condition of verification, right?
I.E., if a check (plain ol' check) is sent, along with the VOD request, what will keep them from taking the money? (It's not like I think these people are honest...)
Thanks. Hate to beat a dead horse, but that "something" still just hasn't clicked.
I'm just not getting how a conditional promise to pay is equivalent to "paying." That's all.
Ow. My head hurts....
Randy
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If you will remember, FRN's aren't really payment either. I think the animal we are all looking for is a negotiable instrument, and it is my understanding (as incomplete as it may be) that several items fall into this category, including FRN's AND CPN's. BOE's are probably in there too, I am still learning like the rest of you, and will always be learning.
A Check is a negotiable instrument as well. But it is not "payment". How can you pay a credit with more credit?
you can't, thus the CPN should equal the FRN.
Jersee will correct my error, hopefully.
(not to be taken as legal advice)