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bigcaat bigcaat
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7 years ago
Use this fact situation to answer the related questions that follow.
On June 1, A, a debtor, loans $5000.00 from B, a creditor, and agrees to repay it by December 1 of the same year. On November 1, B says to A, "Rather than paying me the full $5000.00, just pay me $3500.00 and your debt will be cancelled." A pays the $3500.00, but B now changes his mind and tells A that he wants A to pay him the balance of $1500.00.

In this situation at common law,
a. B cannot recover the extra $1500.00, because he agreed to reduce the amount of the debt.
b. B is estopped by promissory estoppel from recovering the $1500.00.
c. B can recover the extra $1500.00 on the basis of quantum meruit.
d. B can recover the extra $1500.00 under present-day legislation.
e. B can recover the extra $1500.00 since his promise lacks fresh consideration.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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MiY4GiMiY4Gi
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7 years ago
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bigcaat Author
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7 years ago
This helped my grade so much Perfect
bahajo
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Yesterday
Correct Slight Smile TY
lipop
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2 hours ago
Thanks
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