Question: Please keep the answer short and simple. (a) Ann owed $2,500 to Barry for services Barry rendered to Ann. The debt was due June 30,

Please keep the answer short and simple.
(a) Ann owed $2,500 to Barry for services Barry rendered to Ann. The debt was due June 30, 2016. In March 2017, the debt was still unpaid. Barry was in urgent need of ready cash and told Ann that if she would pay $1,500 of 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 2017, 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. ResultStep by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
