jim owes mike $10,000. there is no dispute as to the validity or amount of the debt. jim tells mike that his rolex watch 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?

Question

02-11-2022
Business

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jim owes mike $10,000. there is no dispute as to the validity or amount of the debt. jim tells mike that his rolex watch 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?

Sagot :

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