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The meaning of PAY IN FULL is to pay all of the money owed (for a bill or debt). How to use pay in full in a sentence.
When someone owes money, whether it's for a loan, a service, or a product, "payment in full" means that they have paid the entire amount they owe. This concept is important because it signifies that the debtor has fulfilled their financial obligation, and the creditor can no longer claim any further payments.
Define Paid in Full or Payment in Full. means the irrevocable and indefeasible payment in full in cash of all of the Senior Debt and the termination of the lending commitments under the Senior Debt Documents.
Paid in Full or “Payment in Full” means, (i) the payment in full in cash of all outstanding Loans and LC Disbursements, together with accrued and unpaid interest thereon, (ii) the termination, expiration, or cancellation and return of all outstanding Letters of Credit (or alternatively, with respect to each such Letter of Credit, the ...
The act of providing all money owed to a party, typically mentioned on the back of a check to signify the acceptance of the payment as total. How to use "payment in full" in a sentence. After months of installments, he finally made a payment in full to clear his debt.
Define Pay in Full. or “Payment in Full” means, with respect to the Obligations, the payment in full in cash of all Obligations (other than contingent indemnification and expense reimbursement obligations to the extent no claim giving rise thereto has been asserted).
Sep 27, 2024 · According to the Uniform Commercial Code (UCC), a set of model rules that many states choose to adopt, a “paid in full” check will only extinguish a debt if you meet the following factors: You and the creditor disagree about the claim amount or haven't finalized it.
Definition: Payment in full means paying all the money that is owed to someone else. It can also refer to an agreement between a person who owes money (debtor) and the person they owe money to (creditor) to settle the debt for an amount less than what is owed.
Payment in Full Law and Legal Definition. Payment in full means remitting all funds due to another. This language is often written on the back of a check above the place for endorsement to prove that the payee accepts the payment as complete.
Nov 21, 2016 · Published Nov 21, 2016. It is a common myth that if someone writes “paid in full” on the memo line of a check, and the check is cashed, then the person cashing it has actually agreed to accept...
