As a group discuss the following cases and then describe your answers to the questions given at the end. / Case 1 1 1. A has lent $100,000 to B to be returned in 10 months in equal instalments of $10,000 every month. B made payment for sincerely for the first three months. After 3 months, B honestly explains that. she is not in a position to return the balance $70,000. Realizing the situation, A agrees to accept $50,000 in exchange of the old debt of $70,000. B pays a $50,000 accordingly. a. Can A later insist that B still owes $20,000? Yes or No or both? [U When Yes, explain why. [2] c When No, explain under what conditions? [6]