Lecture on Debt Discharge and Public Policy

Introduction

• Discussion on how every debt is prepaid under US public policy.
• Importance of understanding lenders and agencies' requirement by law to accept lawful remittance.
• Public policy shift in 1933 and its implications on debt discharge.
• Emphasis on self-research and due diligence; not financial or legal advice.

Key Topics

1. Public Policy Shift (1933)
   • House Joint Resolution 192 enacted in 1933.
   • Suspension of the gold standard, creation of fiat currency.
   • Obligations can no longer be demanded in gold or lawful money.
   • Debts dischargeable through credit or tender (fiat currency).
2. Definition of Remittance
   • Act of tendering a payment to settle debt or pay for services.
   • Does not necessarily require physical currency.
3. Legal Tender and Negotiable Instruments
   • Tender includes performance offers like coupons, billing statements, promissory notes.
   • UCC 3-603: Tender of payment discharges obligation if refused.
4. Equity and Public Policy
   • Utilization of equity and public policy to supplement commercial law.
   • Importance of fairness and principles like fraud, duress, mistake.
5. Dishonor and Evidence of Dishonor
   • UCC 3-505: Requirements for acceptance and consequences of dishonor.
   • Silence on tender indicates dishonor.
6. Role of Coupons in Payment
   • Coupons as negotiable instruments.
   • Power of signature in financial transactions.

Steps to Enforce Public Policy

1. Sending Coupon Remittance
   • Include a letter of endorsement, acceptance for value letter.
   • Follow specific directions (31 CFR 328.15 and 328.6) for coupon creation.
   • Attach conditional acceptance, notice of tender, reserve rights under UCC 1-308.
   • Send via certified mail, keep a copy.
2. Legal Process and Remedies
   • Public policy requires discharge of obligations — House Joint Resolution 192.
   • Banks operate on credit, not cash.
   • Respond to non-acceptance with notice of dishonor, fault, default.

Conclusion

• Importance of knowledge and understanding of laws over procedural steps.
• Encouragement to remain proactive, not reactive; assert rights confidently.
• Call to Action:
  • Engage in further learning and empowerment to use public policies effectively.
  • Consider mentorship or deeper study to fully grasp consumer law concepts.

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Additional Resources

• Links for further engagement with the lecturer for personal coaching or community involvement.
• Platforms for more content and updates: Instagram, Twitch, etc.

Final Thoughts

• Encouragement to comment about personal experiences with remittance.
• Reminder of the protective nature of public policy when used correctly.