solution

If you owe Mr. Storr $900 for goods received and Mr. Storr agrees to take $800 in

full satisfaction of the debt, which of the following is true?

a. Even if you take the $800 to him, Mr. Storr can later sue you for the $100 on

the principle of quantum meruit.

b. Many jurisdictions have passed legislation preventing Mr. Storr from suing

youfor the difference if he actually takes the $800.

c. Under these circumstances, you only have to pay a reasonable price for the

goods.

d. At common law, such a one-sided promise is always binding and Mr. Storr

could sue for the remaining $100.

e. The issue of consideration is irrelevant when dealing with satisfaction of a

debt.