Answer: Option C
Here is the complete question
(Marcy's mother, Sue, did not want her to date until she was older. She also wanted Marcy to attend law school. Just before Marcy started her freshman year in college, Sue told Marcy that if Marcy would refrain from dating until she received her law degree, then Sue would pay off all of Marcy's school loans and throw in an extra $50,000. Marcy agreed and stated, "Thanks, Mom; when I graduate, I'm throwing you a big party for all you have done for me!" Sue smiles and hugs Marcy. Marcy finished law school and asked for payment of her loans, the $50,000 in cash, and for a car. Sue said, "No way! I know you went out on some dates during law school, and I never agreed on the car." Marcy said those were just study nights and that her mother had never objected to Marcy's frequent statements that she wanted a car upon graduation. Sue asks about the party. Marcy tells her that she is nuts because there is no way Marcy can afford a party since Sue has backed out of the deal. After some serious negotiation, Marcy and Sue settled their dispute with Sue agreeing to pay for half of Marcy's school loans and for all of the expenses of Marcy's upcoming wedding; Sue also agreed to forget about Marcy throwing a party for her. Was there sufficient consideration to support Marcy's agreement to throw a party for Sue? a) Yes, sufficient consideration was present. b) No, there was insufficient consideration because Sue did not promise anything in exchange. c) No, there was insufficient consideration because Marcy's agreement was illusory. d) No, because throwing a party is not of a monetary value such as to constitute consideration. e) No, because close relatives are involved.)
Explanation:
According to contract law;
"A valid contract must contain an offer, exchange of consideration, and acceptance. Even when these elements are present, the court may find some contracts to be unenforceable. This may apply to contracts with illegal provisions or contracts that are unconscionable. Unconscionable contracts may be signed due to undue influence or under duress. Unconscionable contracts may also contain an unfair surprise, limited warranty, or unequal bargaining power."
Now with the above statement, Sue's request was unimaginable and she didn't uphold her end of the bargain. Even if she had throw the party for Marcy, it won't be equal to what Marcy was willing to offer. Besides, Marcy never brought the option of buying a car. She is just paying up the student loan as an act of gesture, since Sue had already gone on dates even if she said it were "study nights".
