Define consideration-what is the consideration in contract

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Reference no: EM132082272

Rachel wants to attend Harvard University. It has been her lifelong dream to attend the prestigious school. When Rachel received a Letter of Admission, she took out several loans to fund her college education. Rachel’s grandfather became aware of the loans and offered to pay off the loans when Rachel graduated provided that she would not marry or have children until she graduated. Rachel, in return, agreed to pay for her other expenses including books, housing and food. During Rachel’s junior year at Harvard, she became engaged.

Define consideration.

What is the consideration in this contract?

Is the contract between Rachel and her grandfather valid? Why or why not?

Can Rachel’s grandfather refuse to pay the remainder of Rachel’s tuition? Why or why not?

Reference no: EM132082272

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