Mark owes 2000 each to his business partners, Ryan, Bryan, and ...

[nenivikky]

Mark owes 2000 each to his business partners, Ryan, Bryan, and Clark. Since Mark is facing financial difficulties, his business partners agree to accept a total amount of 4800 from Mark as a cancellation of the unpaid balance due to them. This type of an agreement is known as a _____.
 A) composition of creditors
 B) writ of certiorari
 C) forbearance
 D) promissory estoppel

Question 2

The parol evidence rule generally excludes words spoken before or at the time a written contract was executed from contradicting the terms of the contract.
  Indicate whether the statement is true or false

[Hdosisshsbshs]

Answer to Question 1

A

Answer to Question 2

TRUE

[nenivikky]

Thanks for the timely response, appreciate it

[Viet Thy]

Great answer, keep it coming