Ask a Business Lawyer. Get Business Law Questions Answered ASAP.
1. Yes. Huber had the power to change the nature of the consideration he was willing to accept and to reduce the effective total value of the repayment. The change in the nature of the consideration paid by Sill and the reduction in the amount accepted support the validity of the agreement to cancel the debt at this time.
2. Yes. The principle here is PROMISSORY ESTOPPEL. By virtue of that rule of law, if A makes an offer or promise and B acts in reliance on that promise to B's detriment (quitting the other job), then a contract has been formed.