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Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
Edition 11ISBN: 978-1133587576 Exercise 15
Nancy owed Sharon $1,500, but Sharon did not initiate a lawsuit to collect the debt within the time period prescribed by the statute of limitations. Nevertheless, Nancy promises Sharon that she will pay the barred debt. Thereafter, Nancy refuses to pay. Sharon brings suit to collect on this new promise. Is Nancy's new promise binding? Explain.
Explanation
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Case summary:
Ms. N owed $1,500 from Mr...
Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts
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