Did florida federal reject a valid tender

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Reference no: EM131471659

Question: Florida Federal held a mortgage on property owned by Summa Investing Corp. Florida Federal told Summa if it did not pay the $2,505 it owed by April 2 by certified or cashier's check, the entire debt plus collection costs and additional interest would be due. No funds were received by April 2, so Florida Federal began foreclosure proceedings.

Summa then tendered an ordinary check for $3,032. Florida Federal returned the check, saying the amount was now $4,373 and the funds must be certified. Summa sent another ordinary check, which was returned. Did Florida Federal reject a valid tender?

Reference no: EM131471659

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