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Question
Daniel owes Casey a debt, the amount of which is subject to a good faith dispute. The parties agree to settle the debt, with Daniel promising to pay Casey $15,000 and Casey promising to release Daniel on a $25,000 debt. The settlement agreement:
A. is supported by consideration.
B. lacks consideration because Casey is not giving Daniel any legal value.
C. lacks consideration because Daniel is promising to perform a preexisting legal obligation.
D. is binding under UCC section 2-209 even though there is no consideration.
Answer
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