Payment

The act of discharging a debt, duty, or obligation, by delivering a value for which it calls; also, the money or other value delivered., A payment cannot be construed as an acceptance, under any circumstances. The two things are essentially different. One is a promise to perform an act, the other an actual performance. A banker or an individual may be ready to make actual payment of a check or draft when presented, while unwilling to make a promise to pay at a future time. Many, on the other hand, are more ready to promise to pay, than to meet the promise when required. The difference between the transactions is essential and inherent.

First National Bank of Washmgton v. Whitman, 94 U. S. 343.

An oral undertaking of the owner of a building, that he will pay certain debts of the contractor, does not constitute a payment for which he must be allowed, under a statute provision that the owner shall be allowed, in settling the liens of sub-contractors, whatever payments he has made in good faith to the contractor; even though, after notice of the sub-contractor's lien, he has actually paid the debts, as promised.

Gridley v. Sumner, 43 Conn. 14.

Payment signifies not merely the delivery of a sum of money, but the performance of an obligation. It is an act requiring the exercise of the will, — of consent to the extinguishment of the obligation.

Bloodworth V. Jacobs, 2 La. Ann. 24.

Payment may be made either in money, or in money's worth; but, to amount to a payment, the thing must be done, the money must be paid, or the thing taken as money must be passed, so as presently to become the property of the other party. A promise or undertaking to pay either in money or other thing is not a payment: the contract is executory, whereas payment is executed, is a thing done.

Rhodes v. Chesson, Busb. L. 336.

Payment implies satisfaction by money, and not a security by pledge of real estate. Bailey v. Pittsburg, &c. Gas, &c.

Co., 69 Pa. St. 334.

It means satisfaction by money, not by an exchange or compromise, or an accord and satisfaction.

Manice v. Hudson Rivw R. R. Co., 3 Duer, 426, 441.

Payment is never used in the law in a vindictive sense. It is the discharge of an obligation in money, or an equivalent, usually with the assent of both parties. Thus a creditor cannot seize his debtor's property, and declare at his own pleasure that he will take it in satisfaction of his demand. defendant, in an action brought for a, given sum, admits either the whole or a part of the plaintiff's claim, he often, with the view of avoiding expense in the prosecution of the action, makes what is termed ' ' a payment into court; ' ' that is, he pleads that he brings a sum of money into court, ready to be paid to the plaintiff if he will accept the same, and that the plaintiff has no claim to a larger amount; and this plea is accompanied by an actual payment of the specified sum into the hands of the proper officer of the court, where the plaintiff, or usually his attorney, may, upon application, obtain it. Should the plaintiff, after this, proceed with the action, he does so at the peril of being defeated, and having the costs to pay; unless he should, upon the trial, prove that a further sum stiU remains due to him from the defendant. The payment into court protects defendant from interest and costs, unless the plaintiff establishes some part of the contested portion of his demand. Payment out of court. When money is to be paid out of court, the order directing the payment is taken to the chancery pay-office, and in due course a check for the amount will he given by the paymastergeneral. Mozky Sf W.