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Mona works as the secretary for Amazing Amusements for 13 years. Upon her retirement, Brian,...

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Accounting

Mona works as the secretary for Amazing Amusements for 13 years. Upon her retirement, Brian, the owner of Amazing Amusements, promises to pay Mona $500 per month for the next six years because of the wonderful job she has done for his company. Which of the following statements is correct?

1. Brian's promise is based on past consideration, and his promise is not a legal obligation

2. If Amazing Amusements pays Mona the $500 for more than six months, they would have to continue to pay her.

a. 1 only

b. 2 only

c both 1 or 2

d neither 1 or 2

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