Fernando Owes Lucia $8,000

question 193

Multiple Choice

Fernando owes Lucia $8,000. They both realize he is unlikely to be able to repay that much, so Lucia says: "Pay me $5,000 and we'll call it good." Fernando pays the $5,000. This settlement is called:

• A) preexisting duty
• B) liquidated debt
• C) unliquidated debt
• D) accord and satisfaction
• E) detrimental reliance

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