You owe MasterCard $3,000. You and MasterCard orally agree that if you pay $2,000, MasterCard will forgive the rest of the debt. If you pay $2,000, can MasterCard recover the $1,000 balance? Please explain why the answer is yes and why there is no consideration.

Answer rating: 100% (QA)

In this scenario MasterCard can recover the 1000 balance despite the oral agreement to forgive the d... View the full answer