Able Borrowed $10,000 from Baker,promising to Return It with $1,000

question 12

Multiple Choice

Able borrowed $10,000 from Baker,promising to return it with $1,000 interest on January 1,2006.There is no dispute that Able owes Baker $11,000 due on January 1,2006.On that day,Able gave Baker a valid check in the amount of $10,500 marked "payment in full for loan due January 1,2006." Baker accepted that check and deposited it into his account.If Baker then sues Able for the unpaid $500,what would the result be?

• A)Able wins,because Baker accepted the lesser payment.
• B)Able wins,because Baker made an implied promise to accept $10,500 as full payment,thereby forgiving $500 of the loan.
• C)Baker wins,because Able gave no consideration in exchange for Baker's promise to forgive $500 of the loan.
• D)Baker wins,because marking "payment in full" can never relieve a party of its original obligations under a contract.

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Definitions:

Team-Building Step

An action or activity designed to enhance teamwork, improve interpersonal relations, and foster a stronger sense of unity among team members.

Evaluate Results

The process of assessing the outcomes or results of an activity, project, or performance, to determine its effectiveness or success.

Change

The process or act of becoming different, often implying the move from a current state to a desired future state within an organization or individual practices.

Team Building

The process of creating a cohesive and functional group of individuals who work effectively together towards common goals.