Asked by
Alexandra Armas
on Nov 21, 2024
Verified
Lance contracts with Herman to fix the brakes on his car. The agreed upon amount is $750. When Herman is fixing the brakes, he notices that a wheel bearing needs replacement because it is completely broken. When Lance picks up his car the bill is $900. Lance says he will not pay this amount but the agreed upon $750. This is considered a(n) ________ debt.
A) disputed
B) unacknowledged
C) unaccepted
D) liquidated
E) unliquidated
Unliquidated Debt
A debt for which the exact amount owed has not been determined.
- Distinguish between the concepts of liquidated and unliquidated debts and understand their effects on an agreement and fulfillment.
Verified Answer
JF
Learning Objectives
- Distinguish between the concepts of liquidated and unliquidated debts and understand their effects on an agreement and fulfillment.