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

Option C represents a binding contract because it involves an exchange of consideration: $10 for a can of pop. Each party is offering something of value to the other, which meets the requirement of consideration for a contract to be binding.

With Regard Only to the Requirement of Consideration,which One of the Following