Daniel owes Casey a debt, the amount of which is subject to a good faith dispute. The parties agree to settle the debt, with Daniel promising to pay Casey $$15,000$ and Casey promising to release Daniel on a $$25,000$ debt. The settlement agreement:

lacks consideration because Daniel is promising to perform a preexisting legal obligation.

is supported by consideration.

lacks consideration because Casey is not giving Daniel any legal value.

is binding under Uniform Commercial Code section $2-209$ even though there is no consideration.