Reference no: EM13897376

Anne is a 75 years old Millionaire and she has only 1 grandkid Edward who is 21 years old. Annie raised Edward who was a very good student, and wanted be an architect. He got accepted to the top Architect school in the country but 6 months into it, he stopped attending school, missed almost all classes and started hanging out with all kinds of criminals about 6 people in a group who were trying to make him to be "cool" and teaching him how steal, deal drugs and drink alcohol. When Anne asked Edward if he no longer is interested in becoming an architect he told her that it is his lifelong dream, but now he just wants to have fun, enjoy life while others are studying day and night and only in 5 years he will think about going back. Obviously, Edward's idea of having fun was not compatible with the healthy way young adults prefer to have fun. Thus, Annie got very worried, she noticed how this shy and warm hearted kid is turning into detached and aloof person who blindly follows everything his newfound friends say and do and how harshly they treat him, yet he refuses to acknowledge that they are using him and turning him into something he is not. 

Anne tried to talk to him, take him to therapy but nothing helped, then she found a solution. One reason why these criminal kids were attracted to Edward was because he was rich and could take the whole group out to have a  party where he paid for everyone, he would take them to elaborate trips and buy them cars and anything they wanted. Anne came up with a plan to save Edward. Instead of cutting him off she called Edward and they came into agreement...                                     Anne told Edward that she is planning to cut her off of the inheritance, that he is not going to receive ANYTHING, not even a penny, because she is planning on donating all her wealth to charity. Edward asked what can he do for this not to happen, as he was used to luxury lifestyle and Anne told her that IF EDWARD cuts off all connections with his current criminal friends, then goes back to University, becomes an A student and graduates from University, lands his first job and keeps it for at least 1 year THEN Anne will transfer all her wealth which was 25 Million Dollars total, to Edward's account. 

Edward said, I will do ALL OF THAT BUT can't cut off connections with those friends, they are cool :-) 

Annie said YOU HAVE TO cut off all connections with those friends, go back to University, become an A student, graduate and land your first job right after and keep it for at least 1 year and only THEN I will transfer the money into your account. 

Edward said OK I Agree to all of it!  

There was NO WRITING between the parties but from that day on Edward cut off all connections with his criminal friends, he went back to University, became an A student and landed his first job then kept it for 1 year, and during that time he became the same Edward Anne knew. He was caring, warm, he started being engaged in healthy activities with his intelligent and mature friends, taking care of his health, he also started to volunteer at the local office helping teenagers to stay off the streets teaching them different skills. At this point Edward became a mature and success driven young man who looked back and was happy that his grandma's plan ultimately saved his life.

Since Edward fulfilled all the promises given to grandma, he asked her when will she transfer the money into his account? To which grandma answered that she changed her mind and Edward is not getting anything until she passes away. Edward went to court to enforce the contract.

1) Who is the Offeror and who is the offer in this scenario?

2) Did Anne and Edward have a valid contract (TALK ABOUT ALL THE ELEMENTS of a VALID CONTRACT, where is the offer, where is the acceptance, consideration and lack of defenses) 

3) Was Anne's offer accepted right away or was there a counteroffer? Show where? 

4) What is a Consideration? and by whom is it fulfilled or not? 

5) Even if the contract was not in writing can it still be enforceable and why? There is 1 Element you need to talk about. Identify it correctly and analyze :-)