Question
Payments made in error:
Extinguishes the original debt.
Can only be contractually regulated.
Will never result in the bank facilitating and/or making the payment being liable.
Does not extinguish the original debt.
Extinguishes the original debt.
Can only be contractually regulated.
Will never result in the bank facilitating and/or making the payment being liable.
Does not extinguish the original debt.
Answers
GPT-4o mini
Payments made in error typically refer to situations where a payment is made that was not intended or is incorrect in some way. Here's a breakdown of the statements:
1. **Extinguishes the original debt**: This is generally incorrect. A payment made in error does not typically discharge or extinguish the original debt unless explicitly agreed upon by both parties.
2. **Can only be contractually regulated**: This is partially true, as the handling of mistaken payments may depend on contractual terms and applicable laws.
3. **Will never result in the bank facilitating and/or making the payment being liable**: This statement is not accurate. In some cases, a bank may bear some liability if it facilitated a payment that was erroneous, especially if it did not exercise proper diligence.
4. **Does not extinguish the original debt**: This statement is typically true. A payment made in error usually does not cancel or extinguish an original obligation unless the parties involved agree on that outcome.
Based on the above analysis, the most accurate statement regarding payments made in error is: **"Does not extinguish the original debt."**
1. **Extinguishes the original debt**: This is generally incorrect. A payment made in error does not typically discharge or extinguish the original debt unless explicitly agreed upon by both parties.
2. **Can only be contractually regulated**: This is partially true, as the handling of mistaken payments may depend on contractual terms and applicable laws.
3. **Will never result in the bank facilitating and/or making the payment being liable**: This statement is not accurate. In some cases, a bank may bear some liability if it facilitated a payment that was erroneous, especially if it did not exercise proper diligence.
4. **Does not extinguish the original debt**: This statement is typically true. A payment made in error usually does not cancel or extinguish an original obligation unless the parties involved agree on that outcome.
Based on the above analysis, the most accurate statement regarding payments made in error is: **"Does not extinguish the original debt."**