Zerodec Mega Corp. v. Terstep of Texas, Inc. (In Re Zerodec Mega Corp.)

OPINION

EMIL P. GOLDHABER, Chief Judge:

Under § 1207 of the Uniform Commercial Code (“the UCC”) of Pennsylvania, the Bankruptcy Code (“the Code”) and the doctrine of accord and satisfaction we must face the question of whether an obligation owed to the debtor is satisfied by the debt- or’s cashing an obligor’s check representing only partial payment although the check bore the obligor’s statement, “Pull and final payment....” Although the debtor expressed no explicit reservation of rights on the check, on endorsing the check postpetition, it obliterated the quoted language. On the cross motions…