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(Solved): Daniel and Harman enter into a contract in which Harman promises to pay Daniel $500 in exchange for ...



Daniel and Harman enter into a contract in which Harman promises to pay Daniel $500 in exchange for him painting a portrait of Harman with her little doggie Seraphina. Daniel completes the painting, and it is beautiful! Harman has run into a problem however - she is $50 short of the amount she owes Daniel, but knows she has a textbook (worth about $70) that he needs for a course he is taking next semester. She offers to give him her textbook and pay Daniel $450 in cash instead, and Daniel agrees that this is acceptable. Which of the following best describes this situation? a. Past consideration b. The granting of a release c. Gilbert Steel rule d. Accord and satisfaction e. Gratuitous promise



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