Legal Question in Business Law in California

Stacy writes out in longhand on her letterhead, "I owe Mark $150.00, payable on March 1, 2010". She then signs and dates the letter and gives it to Mark. Mark then gives the letter to Cheryl intending to transfers to her his right to receive the $150.00 as a full and complete discharge of his debt of $78.00, that he owes to Cheryl. Following the transfer, but before demand had been made by Cheryl, Mark in exchange for Stacy giving him her Tony Guinn Bobblehead doll, forgave her indebtness of $150.00. Cheryl now seeks to enforce payment of the $150.00 from stacy, who assers the defense of "debt cancellation". Who wins?


Asked on 6/02/12, 4:26 pm

2 Answers from Attorneys

Whomever isn't stupid enough to hire a lawyer who tried to get out of doing their own work in school (yes you, assuming you graduate if you are this sad of a student).

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Answered on 6/02/12, 4:46 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

LawGuru rules forbid us to answer what looks like a law-school homework problem.

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Answered on 6/02/12, 5:11 pm


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