California CodesCivil Code - CIVDivision 3 — ObligationsPart 1 — Obligations in GeneralTitle 4 — Extinction of ObligationsChapter 2 — Offer of PerformanceSection 1500
An obligation for the payment of money is extinguished by a due offer of payment, if the amount is immediately deposited in the name of the creditor, with some bank or savings and loan association within this state, of good repute, and notice thereof is given to the creditor.
Notes
Establishes that a money-payment obligation is extinguished when payment is duly offered, the amount is immediately deposited in the creditor’s name with a reputable bank or savings and loan association within the state, and notice of that deposit is given to the creditor.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1500 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-1/title-4/chapter-2/section-1500