Melanie bought a used car from J.D. Byrider for $1500, payable in three equal installments of $500. The contract provided that Melanie's final payment was due on March 1. After making her first two $500 payments on time, Melanie asked J.D. Byrider if it would accept $400 on March 1 as payment in full of the contract, instead of the originally agreed payment of $500 on March 1. J.D. Byrider agreed, and Melanie paid him $400 on March 1. Is J.D. Byrider bound by its promise to accept $400 as the full final payment of Melanie's debt?

Group of answer choices

No, because Melanie paid less than the full amount of a liquidated debt.

Yes, because the manager and Melanie settled an unliquidated debt.

Yes, because the manager and Melanie formed a composition agreement.

Yes, because J.D. Byrider received new consideration from Melanie.