a. Ann owed ($2,500) to Barry for services Barry rendered to Ann. The debt was due June
Question:
a. Ann owed \($2,500\) to Barry for services Barry rendered to Ann. The debt was due June 30, 2015. In March 2016, the debt was still unpaid. Barry was in urgent need of ready cash and told Ann that if she would pay \($1,500\) on the debt at once, Barry would release her from the balance. Ann paid \($1,500\) and stated to Barry that all claims had been paid in full. In August 2016, Barry demanded the unpaid balance and subsequently sued Ann for \($1,000.\) Result?
b. Modify the facts in (a) by assuming that Barry gave Ann a written receipt stating that all claims had been paid in full. Result?
c. Modify the facts in (a) by assuming that Ann owed Barry the \($2,500\) on Ann’s purchase of a motorcycle from Barry. Result?
Step by Step Answer:
Business Law And The Regulation Of Business
ISBN: 9781305509559
12th Edition
Authors: Richard A. Mann, Barry S. Roberts