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Factual ApplicationJames had a contract with Frasier to fix Frasier's plumbing issue at his home. The contract wasmade to fix the issue for $3,000. But after the work was completed Frasier refused to payanything unless James agreed to accept $2,500.65) James's attempt to make a new contract is void because it lacks consideration under the________ concept.A) illegal considerationB) gift promiseC) past considerationD) preexisting duty

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