Legal Question in Consumer Law in Wisconsin
notation written on a check for payment
We are home builders - our payment from our building client indicated in the memo section ''preserve all objections'' - what does this mean? please
1 Answer from Attorneys
Accord and Satisfaction; Notation Written on Memo Section of Check for Payment of Contractor
WI recognizes the doctrine of "accord and satisfaction," which tends to release any counterclaims the payor may have against the payee under certain conditions. One such condition can occur if the check is clearly intended as a final settlement of the relationship between the parties. I have no idea of what this homeowner intended by this notation, but preservation of possible counterclaims against you might be a reasonable guess. You should consult with your own attorney in this matter since my comments are not intended as legal advice.
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