An Agreement Between Two Parties to Pay a Lesser Amount

question 14

Multiple Choice

An agreement between two parties to pay a lesser amount to settle an unliquidated debt is

• A)enforceable,as there is consideration.
• B)unenforceable,as there is no consideration.
• C)enforceable in only some states.
• D)unenforceable as a violation of public policy.

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Definitions:

Repair People

Professionals specialized in fixing or mending machinery, equipment, or structures to ensure proper function and reliability.

Demand for Labor

The total demand for workers in an economy, which is influenced by wages, productivity, and the overall level of economic activity.

Price of Product

The amount of money required to purchase a good or service, determined by factors like cost of production, competition, and demand.

Technological Change

The overall process of invention, innovation, and diffusion of technology or processes.