Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

1947

Banking and Finance Law

Down payment

Articles 1 - 1 of 1

Full-Text Articles in Law

Contracts-Tender-Check As Tender, George A. Rinker Mar 1947

Contracts-Tender-Check As Tender, George A. Rinker

Michigan Law Review

Plaintiff had paid $300 as down payment on a restaurant under contract of purchase from defendant. On the day specified in the contract for payment of the balance, plaintiff tendered to defendant a check drawn on the local bank and bearing the notation "OK G. R. P ." Defendant refused the check, saying he did not have to accept a check in payment, and that he did not know what the notation meant, even though plaintiff had told him it was placed there by the president of the local: bank, and meant that the check was good. Plaintiff recovered damages …