Jim owes Mike 510,000 . There is no dispute as to the validicy or amount of the debt jim tells Mike that his Rolex wateh is worth $5,000 and offers Mike the watch in satisfaction of the debt. Mike accepts. Mike later finds out that the watch is really only worth $3,500. Jim thought the watch was worth $5,000 and did not fraudulently represent the value. How much does Jim still owe Mike? A. 510,000 . The watch is not consideration since the debt is liquidated. B. 55,000 . The watch is consideration and they agreed it was worth 55,000 . C. 56.500. The watch is consideration but only for the actual value of the watch. D. 50 . The watch is considered full satisfaction regardless of value. Reset Sciection