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What is an illusory promise? Provide an example. Can a preexisting duty be consideration? Why or why not? What is a release? What is an

What is an illusory promise? Provide an example. Can a preexisting duty be consideration? Why or why not? What is a release? What is an option? What is accord and satisfaction?

Do you believe that Abdul owes Tony the $10,000 he borrowed to start his business? Under what circumstances might your answer change?

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