70C-2-206 - Settlement of claims.
70C-2-206. Settlement of claims.
(1) A claim by a debtor against a creditor for an excess charge, other violation of thistitle, or civil penalty if disputed in good faith, may be settled by agreement for less value than theamount claimed, unless a court, as a matter of law, finds the settlement to have beenunconscionable at the time it was made.
(2) A claim, whether or not disputed, against a debtor may be settled for less value thanthe amount claimed.
Enacted by Chapter 159, 1985 General Session