Reference no: EM132350052

D owed C $5,000 which was due and unpaid. D was negotiating for the purchase of a new house and realized that if C demanded payment of the $5,000 after he had invested all his available cash.in the new house, he, D, would be in an unfortunate predicament. He therefore went to C and explained the whole situation to him and requested a one-year extension of the $5,000 debt. C expressed willingness to go along under the circumstance and gave D a written promise not to sue on that obligation for the period of one year. Two days later, and before D had entered into a binding agreement to purchase the new house, D received a letter from C revoking his promise and demanding immediate payment of the $5,000 debt, and in which he threatened to sue for the debt if payment was not made immediately. Answer the following questions relating to these facts, and discuss your reasons fully:

(a) Is there consideration for the promise of C not the sure for one year?

(b) Could the written promise not to sue be subject to any other argument for enforceability by D?

(c) In what regards, if any, would your answers to (a) and (b) above be changed if D had entered into an agreement to purchase the house before his receipt of C's letter?