Tony owes $5,000 on his credit card. He sends the credit card company a check for $1,000 with the notation 'payment in full' on the check. If the credit card company cashes the check:
a) Tony's balance will be deemed paid in full if the $5,000 amount was a liquidated debt.
b) Tony's balance will be deemed paid in full whether the debt was liquidated or unliquidated because the credit card company had an obligation to review notations on checks to protect itself.
c) Tony's balance will be deemed paid in full if the $5,000 amount was an unliquidated debt.
d) Tony's balance is reduced by $1,000 because the check is likely subject to a UCC exception to the general rule of accord and satisfaction where large financial organizations are involved.