Smith v. Avco Mortgage & Acceptance, Inc.

SENIOR JUSTICE WHITING

delivered the opinion of the Court.

In this appeal, we deal with issues arising out of a creditor’s refusal of the borrowers’ tender of an uncertified check in their attempted exercise of a right contained in the following contractual provision:

The Borrowers shall have the right to pay off the loan, in full, prior to the maturity date, so long as they are current on their monthly payment obligations, by payment of the sum of SIXTY THOUSAND AND NO/lOO DOLLARS ($60,000.00) on or before March 15, 1993.

Since this issue was decided on the creditor’s demurrers, we will consider…