Is the motor really a 120V single phase motor, or was this hypothetical? If real, the issue is not as simple as just reducing the torque. If you want to know more, you would have to tell us exactly which TYPE of single phase 120V motor it is, there are many different types, all with different effects.
Assuming the most common type, a Capacitor Start motor, starting/peak torque reduces at the square of the voltage change, but running torque is reduced at the same rate. So if already running when the voltage drops to 85VAC, the torque will drop to 85/120 which is 70%. But if trying to start from a stop, or if the load changes and you need to RE-accelerate the load, the peak torque is reduced to just 49% of normal. Since starting torque is usually 160% of Full torque, that means the starting torque us now roughly 80% of FLT instead of 160% FLT. That can mean, in a single phase motor under load, that the acceleration time might be too long for the starting capacitors or even the starting switch (if any) to handle. They over heat and fail.