Question
Elvin borrowed $8,000 from Penny, promising to pay her back with 5% interest. However, Elvin was a poor financial manager, and he had to declare
Elvin borrowed $8,000 from Penny, promising to pay her back with 5% interest. However, Elvin was a poor financial manager, and he had to declare bankruptcy, and his debt to Penny was discharged (released), in 2015. In 2017, Elvin invented a very popular app for identifying rodents, and his financial fortunes improved. In 2018, Penny approached Elvin, and explained that things had gone poorly for her and that she really needed the money repaid. Elvin cried, then promised to repay her within six months. However, six months passed and he did not pay, so Penny sued on the 2018 promise. Is the 2018 promise enforceable? Explain why or why not.
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