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ohiosr ohiosr
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6 years ago
Use the fact situation in Q25 to answer the related question that follows.
Review the fact situation above and now assume that on November 1, B said to A, "Rather than paying me the full $5000.00, just pay me $3500.00 and give me your watch, and your debt will be cancelled." A's watch is a cheap one worth $5.00. A gives B the watch and pays him the $3500.00.

In this situation,
a. B can recover the $1500.00 from A because the contract was to repay a debt of $3500.00.
b. B cannot recover the $1500.00 from A because A's watch is fresh consideration.
c. B is still estopped by promissory estoppel from collecting the $1500.00 from A.
d. there is still no fresh consideration for B's promise to reduce A’s debt to $3500.00.
e. the watch is meaningless and A will still owe B $1500.00.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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AlexStanfordAlexStanford
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ohiosr Author
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6 years ago
Thanks for answering correctly
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