Will the friends lawsuit for breach of contract succeed


Problem: A man landed a new executive position with a Fortune 500 company. His signing bonus was $250,000. He was so happy that he orally promised a friend that he would give him enough money to buy a motorcycle. The friend, based on this promise, chose a motorcycle and placed a deposit for it. The friend then asked the man for the money to pay for the motorcycle. The man refused to give any money to his friend. Assume that this jurisdiction does not recognize promissory estoppel. Will the friend's lawsuit for breach of contract succeed? (A) Yes, because the man made a binding agreement to pay for the friend's motorcycle. (B) Yes, because there was adequate consideration for the promise to fund the motorcycle purchase. (C) No, because the promise made to the friend did not have sufficient consideration. (D) No, because the promise to fund the motorcycle purchase was not in writing.

 

Request for Solution File

Ask an Expert for Answer!!
Business Law and Ethics: Will the friends lawsuit for breach of contract succeed
Reference No:- TGS03416920

Expected delivery within 24 Hours