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Fabio rents a boat from Albert for $ 5 0 0 0 per month for five years for his fishing business. After one year Fabio

Fabio rents a boat from Albert for $5000 per month for five years for his fishing
business. After one year Fabio slips and injures his back and is unable to work
more than three days a week. This seriously affects the profitability of his fishing
business. As a consequence, Fabio asks Albert to drop the boat rent to 3,000
per month. Albert agrees.
Fabio has been unable to work properly for 18 months. When he recovers his
health and the fishing is profitable again, Albert says he wishes to charge the full
rent for the remainder of the boat rental contract. In addition, he asks Fabio to
repay the rent he had lost because of his promise (that is 18 months x $2000).
Advise Fabio and Albert of their rights under the contract. Explain the
arguments that Fabio and Albert would make in support of their case.

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