Payment may defined as the satisfaction of a promise or the performance of an agreement. Elements of payment are
"	the complete or partial discharge of an obligation; 
"	by actual or constructive delivery; 
"	of money or its equivalent (such as property);
"	by or on behalf of the person obligated to make payment;
"	to the person entitled to payment;
"	for the purpose of satisfying the obligation in whole or in part; and 
"	its acceptance as such satisfaction of such obligation by the person who is obligated to make payment.