Read the following and indicate which agreement would not be a binding contract because of a problem with the requirement of consideration. Assume all the other requirements for a binding contract have been met.
A) Mr. Kooner sold a farm valued at $190,000 to his nephew for only $50,000.
B) Peter agreed to pay Ace Computers Ltd. $50 above the contract price if the company would have his new computer ready ten days earlier than the date specified in the original contract.
C) John, late for work, found his car battery was dead. He flagged down a passing truck and told the driver he would pay him $8 if he would agree to do him the favour of jump-starting the car. The driver of the truck agreed.
D) Len agreed to sell and Karen agreed to buy four of Len's records for "some money."
E) Mary promised in writing and under seal to give Planned Parenthood a donation of $100.

Question

Quizplus · Accepted Answer

In option D, the term "some money" is too vague and indefinite to constitute valid consideration, making the agreement not a binding contract due to the lack of specificity in the consideration.

Read the Following and Indicate Which Agreement Would Not Be