Assume that all other requirements for a valid contract are present and indicate which of the following would not be a binding agreement because of a problem with consideration.
A)Laura promises to pay a carpenter,who is renovating the living room of her home,an additional $100 if he will install an extra cabinet to store her files.
B)Smith sold a valuable watch to Sarah for only $1.
C)John tells his neighbour,Eric,that he will give him $30 to show his gratitude for Eric's extraordinary work for Little League.
D)Mr.N promises to give $50 to the cystic fibrosis society and makes that promise under seal.
E)Jones agrees to accept $80 as full payment of a $100 debt if Kahn,the debtor,agrees to pay the $80 a week before the due date.

Question

Quizplus · Accepted Answer

John's promise to Eric lacks consideration because it is made in gratitude for past action, which does not constitute valid consideration for a new contract.

Assume That All Other Requirements for a Valid Contract Are