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Ron contracts to sell Leslie his boat for $100,000. Later the parties modify the contract...

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Finance

Ron contracts to sell Leslie his boat for $100,000. Later the parties modify the contract by changing the price to $110,000. All other terms remain the same. Is the second agreement enforceable? Why, or why not? If your answer is that the second agreement is not enforceable, explain what can be done to make it enforceable. In other words, you will want to consider the requirements to creating a valid modification of a contract, and discuss any criticisms of the requirements.

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