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MMLU / A creditor loaned his friend …

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

A creditor loaned his friend $15,000 to help pay for the friend's daughter's college tuition. Six months later, the friend lost his job and was unable to repay the loan to the creditor. After learning of his friend's situation, the creditor sent his friend the following letter on June 1:"I promise to discharge the $15,000 debt which you owe me upon delivery of your autographed baseball bat if you promise to deliver the bat to me by August 1 . "After receiving this letter, the friend telephoned the creditor and accepted the offer. The friend's verbal acceptance of the creditor's offer most likely effectuated
Plain-text mathematical notation (without MathML)
A creditor loaned his friend $15,000 to help pay for the friend's daughter's college tuition. Six months later, the friend lost his job and was unable to repay the loan to the creditor. After learning of his friend's situation, the creditor sent his friend the following letter on June 1:"I promise to discharge the $15,000 debt which you owe me upon delivery of your autographed baseball bat if you promise to deliver the bat to me by August 1 . "After receiving this letter, the friend telephoned the creditor and accepted the offer. The friend's verbal acceptance of the creditor's offer most likely effectuated
Original LaTeX notation
A creditor loaned his friend $15,000 to help pay for the friend's daughter's college tuition. Six months later, the friend lost his job and was unable to repay the loan to the creditor. After learning of his friend's situation, the creditor sent his friend the following letter on June 1:"I promise to discharge the $15,000 debt which you owe me upon delivery of your autographed baseball bat if you promise to deliver the bat to me by August 1 . "After receiving this letter, the friend telephoned the creditor and accepted the offer. The friend's verbal acceptance of the creditor's offer most likely effectuated

choices

  1. a bilateral executory accord.
  2. an accord and satisfaction.
  3. a substituted compromise agreement.
  4. a novation.

subject

professional_law

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Source and history

Official source

initial import