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Vivan Corp. and Terra Co. signed a contract whereby Terra was to purchase 5,000 units of goods from Vivan at $.10 per unit. Later, Terra
Vivan Corp. and Terra Co. signed a contract whereby Terra was to purchase 5,000 units of goods from Vivan at $.10 per unit. Later, Terra in good faith requested that the price of the goods be reduced to $.09 per unit. Vivan voluntarily agreed to reduce the price to $.09. This agreement to reduce the contract price to $.09:
Group of answer choices
Is enforceable without new consideration.
Is not enforceable unless Terra Co. gives some new consideration.
Is an illusory promise.
Is unenforceable because of past consideration.
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