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Re: i did NOT say making a payment started a new SOL


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Posted by Why Chat (209.240.205.61) on May 27, 2004 at 15:05:26:

In Reply to: Re: i did NOT say making a payment started a new SOL posted by computerguy on May 27, 2004 at 08:16:44:


Yes computerguy an offer and acceptance IS a contract (DUH!!)

However, the deposit of a check with a restrictive endorsement is NOT an "offer and acceptance", a contract has to be in "good faith" for it to be considered a legal contract, (which, by the way is one of the reasons compulsary arbitration, even if someone signed a credit agreement, is not valid).

In order for a restrictive endorsement to be binding, it must related to a prior SIGNED (by both parties) offer.


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