Question

Lila tells her friend Joanne that she will give her $10,000 toward the purchase of a new car. Lila later changes her mind, and Joanne tells her that she will sue to enforce the contract. A court would likely find that this agreement is:_______. a) un-enforceable because there is not bargained-for exchange.
b) enforceable because lila made a promise to joanne, which is the same as a contract.
c) un-enforceable becasue their agreement was not in writing.
d) enforceable because the 10,000 is the consideration for the agreement.

Answer 1

Answer:

"A" option is correct

Explanation:

In this case, the other party didn't agreed to the exchange of any commodity. Its one sided, which is not enforceable by law. Also for these 10,000 Joanne is exchanging nothing.

It would be enforceable if Lila wanted to give 10,000 to Joanne in exchange of some commodity or product. With out exchange from other party its not enforceable.  

Answer 2

Answer:

A) un-enforceable because there is not bargained-for exchange.

Explanation:

One of the requisites for constituting a contract is that all the parties involved (in this case Lila and Joanne) must engage in a bargained-for exchange. This means that each party must make a promise or performance in exchange for some performance provided by the other party. In this case, only Lila provided a promise but Joanne didn't provide any.

This can be considered an offer but since Lila cancelled the offer before Joanne accepted it, there is nothing to be enforced.