Multiple Choice
Daniel owes Casey a debt,the amount of which is subject to a good faith dispute.The parties agree to settle the debt,with Daniel promising to pay Casey $15,000 and Casey promising to release Daniel on a $25,000 debt.The settlement agreement:
A) is supported by consideration.
B) lacks consideration because Casey is not giving Daniel any legal value.
C) lacks consideration because Daniel is promising to perform a preexisting legal obligation.
D) is binding under UCC section 2-209 even though there is no consideration.
Correct Answer:
Verified
Correct Answer:
Verified
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