Sam Owed Joe $6000 Due January 12, 2017

question 55

Multiple Choice

Sam owed Joe $6000 due January 12, 2017. On January 1st, Joe said he'd take $5000 in full satisfaction of the debt if Sam paid him $5000 on January 5th instead. Sam paid on January 5th. A week later, Joe wants to sue Sam for the $1000 he (Joe) was legally owed. Which of the following is true?

• A) Joe would win because his forgiveness of the loan was gratuitous, (i.e., unsupported by consideration).
• B) Joe would win because they cannot change the original deal.
• C) Joe would lose because of the doctrine of quantum meruit.
• D) Joe would lose because of the rule that past consideration is no consideration.
• E) Joe would lose because early repayment constituted consideration to support the new arrangement.

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Definitions:

Shape Constancy

The perception that an object retains the same shape despite changes in the angle or distance from which it is viewed.

View Object

In computing, particularly object-oriented programming, a 'view object' refers to a construct used to represent information or data in a specific format to the user.

Perception

The method through which people arrange and understand their sensory experiences to assign significance to the world around them.

Visually Perceived Distance

The interpretation of visual cues that allow individuals to understand how far away an object is.