Be sure to use proper terminology and to explain your

Assignment Help Business Law and Ethics

Reference no: EM13472005

As you know, consideration on both sides of a transaction is required in order for a contract to be legally enfoeceable. The following five scenarios are not enforceable contracts because they do not include consideration on at least one side of the transaction. Provide a full explanation about why each one lacks consideration on at least one side of the transaction. Be sure to use proper terminology and to explain your reasoning fully. Assume that all parties are adults with full legal capacity to enter into binding contracts.

a) A husband enters into an agreement with his wife that he will refrain from his use of illegal drugs for at least 6 months and, in return, she will buy him a new motorcycle. Why is this not an enforceable contract?

b) Susan is walking by a park and she sees a child playing in a busy street with a speeding car approaching. Susan rescues the child moments before he is hit by the car. The thankful mother of the child promises to give Susan her diamond earrings in return for saving her child's life. Why is this not an enforceable contract?

c) Sally promises to buy her best friend, Jodi, an iPod for her birthday. On Jodi's birthday, Sally is broke and gives Jodi only a musical greeting card, suggesting that Jodi carry the card around for musical entertainment. Why is this not an enforceable contract?

d) In September, Jack agrees to purchase Mark's old jet ski for "as much as I can afford to pay after I receive my year-end bonus." Mark gets tired of waiting and decides to sell his jet ski to someone else in October, two months before Jack gets his bonus. Why is this not an enforceable contract?

e) Best Buy pays a delivery company in full to deliver a plasma television to the Smith's home. Upon arrival, the deliveryman tells the Smiths that he will unload the television only if the Smiths agree to pay him an extra $100 cash. The Smiths agree to make the payment. After the television is in the home, the Smiths refuse to hand over the $100 cash payment. Why is this not an enforceable contract?

Reference no: EM13472005

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