Question: Tom loaned $ 2 0 , 0 0 0 to Paul, repayable one year later with 9 % interest. The loan was made on March

Tom loaned $20,000 to Paul, repayable one year later with 9% interest. The loan was made on March 1st. On March 1st of the next year, Paul did not make repayment. The next day Tom visited Paul and said to him: "If you will repay me the principal of the loan today, I'll cancel the interest and close the entire matter." Paul assented to this proposal and, in compliance therewith, paid $20,000 to Tom on March 2nd. A few days later Tom demanded $1,800 more from Paul, but Paul refused to pay. Tom then sued Paul to recover the $1,800 interest. Should Tom recover?
 Tom loaned $20,000 to Paul, repayable one year later with 9%

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