Business, 21.07.2020 20:01 dudedan05

Patricia Contreras borrowed $5000 from Kyung-Hu Kim so that she could buy a badly needed used car. She had previously gotten around on an old Vespa scooter, but she recently learned she was pregnant and did not want to take the risk of riding the scooter while she was pregnant. Furthermore, she knew she would need a car once the baby arrived. Patricia was supposed to have paid Kyung-Hu back on October 30, 2013. At that point, Patricia only had about $3000. She asked Kyung-Hu if he would be willing to take that amount plus her Vespa in satisfaction of the debt she owed him. The Vespa was worth about $2500 when Patricia bought it, but it is dated and now worth around $800. Kyung-Hu agreed to Patricia's proposal. The next day Patricia paid Kyung-Hu the $3000 and delivered the scooter to his house. The next month Patricia's grandmother died and left her $125,000 in her will. Kyung-Hu learned of Patricia's inheritance and approached her requesting that Patricia make good on the balance of her $5000 debt. He said he was willing to take $1200 (i. e., the difference between the value of the scooter and the $2000 in cash Patricia never paid). Will Kyung-Hu have any recourse if Patricia rebuffs his proposal?

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Patricia Contreras borrowed $5000 from Kyung-Hu Kim so that she could buy a badly needed used car. S...

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