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I offer the following in the nature of my personal opinon based on my own exploration and present understanding and should not be construed as legal advice.
One way of potentially discharging debt is via Accord and Satisfaction "Accord and Sattisfaction by use of Instrument." See UCC section 3-311
Accord and satisfaction is a well-established legal doctrine with plenty of case law to support it. However, the instrument used for discharge would typically be either a personal check, cashiers check or money order of immediately availble funds on deposit with a federally recognized banking institution. (There may be exceptions however, but it is not my point to make or explore.)
Take some time to look it up on Google, check out the UCC, law dictionaries and associated case law.
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NOTICE & CAVEAT: This post is provided "AS IS" and without warranties of any kind either expressed or implied and is not to be construed as legal advice in any capacity whatsoever.
Last edited by J.W. : 04-16-2006 at 11:30 PM.
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