Chapter 12, End of Chapter, Questions, Exercise 2 Page 246 Part a Part b Part c Ann owed $2,500 to Barry for services Barry rendered to Ann. The debt was due June 30, 2016. In March 2017, the debt was still unpaid. Barry was in urgent need of ready cash and told Ann that if she would pay $1,500 of the debt at once, Barry would release her from the balance. Ann paid $1,500 and stated to Barry that all claims had been paid in full. In August 2017, Barry demanded the unpaid balance and subsequently sued Ann for $1,000. Result?Modify the facts in (a) by assuming that Barry gave Ann a written receipt stating that all claims had been paid in full. Result?Modify the facts in (a) by assuming that Ann owed Barry the $2,500 on Ann's purchase of a motorcycle from Barry. Result?L Chapter 12, End of Chapter, Questions, Exercise 3 Page 24? F3 \" Part a Part I] Judy orally promises her daughter, Liza, that she will give her a tract of land for her heme. Liza, as intended by Judy, gives up her homestead and takes possession of the land. Liza lives there for six months and starts construction of a home. Is Judy bound to convey the real estate? Why or why not? Part a Part b Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Can Ralph rescind his promise? Why or why not