With regard only to the requirement of consideration, which one of the following would be a binding contract?
A)An agreement between a contractor and a home owner that the home owner will pay an additional $1000 if the contractor completes the existing contract according to all its terms
B)A promise by Tom to drive a co-worker to Timmins, Ontario
C)A promise to give $10 exchanged for a promise to give a can of pop
D)A written promise, but not under seal, to give John $50 on Saturday
E)A promise by Mr.Brent to pay $25 to John, who found and returned Brent's wallet, which Brent didn't even know he had lost until John delivered it

Question

Quizplus · Accepted Answer

Consideration requires a mutual exchange of value. In option C, there is an exchange of promises, which constitutes consideration.

With Regard Only to the Requirement of Consideration, Which One