Sam Owed Joe $6000,due January 12,2012

question 89

Multiple Choice

Sam owed Joe $6000,due January 12,2012.On January 1,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:

Gametophyte Generation

The stage in a plant's life cycle that produces gametes (sex cells), alternating with the sporophyte generation in the cycle of alternation of generations.

Angiosperms

Flowering plants that produce seeds enclosed within a fruit, the largest and most diverse group in the plant kingdom.

Ovule

The structure in the plant ovary that develops into the seed following fertilization; also called megasporangium.

Medicinal Plant

Plants with bioactive compounds that can be used for therapeutic purposes or as precursors for the synthesis of drugs.