Jackson Excavation Ltd. provides services to contractors by supplying heavy machinery and operators for excavation and various types of fill for building lots. Jackson managed to obtain for the first time a contract with a prominent residential builder for work on a 10-home development. The value of the work and fill was $60,000 and this was agreed upon as the contract price. After the work was completed and the invoice sent, Jackson learned that the builder had just been granted approval for a 50-home subdivision. Hoping to secure the excavation work for this project as well, Jackson immediately sent a letter to the builder stating that it would accept $50,000 as payment in full for the job just completed. He also mentioned in the letter that he hoped they would continue to do business together.
What legal problems does this situation present and how might the parties solve them?

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The Answer of Jackson Excavation Ltd. provides services to contractors by supplying heavy machinery and operators for excavation and various types of fill for building lots. Jackson managed to obtain for the first time a contract with a prominent residential builder for work on a 10-home development. The value of the work and fill was $60,000 and this was agreed upon as the contract price. After the work was completed and the invoice sent, Jackson learned that the builder had just been granted approval for a 50-home subdivision. Hoping to secure the excavation work for this project as well, Jackson immediately sent a letter to the builder stating that it would accept $50,000 as payment in full for the job just completed. He also mentioned in the letter that he hoped they would continue to do business together.
What legal problems does this situation present and how might the parties solve them?