Asked by Garrett Jones on May 07, 2024
Verified
Mr.White contracts with his wife Ms.White to watch their kids,Joe and Jimmy,one night for $50.What is the status of the contract between Mr.White and Ms.White?
A) There is no contract because there is inadequate consideration.
B) There is a contract as long as Mr.White registers the contract with the Secretary of State.
C) There is a contract as long as $50 is a reasonable profit for watching the kids.
D) There is a contract as long as a court reviews the terms within 30 days.
Inadequate Consideration
When the value exchanged in a contract is disproportionately small, calling into question the validity of the agreement.
Contract
A legally binding agreement between two or more parties that is enforceable by law, outlining obligations and rights of the parties involved.
- Analyze the legitimacy of contractual obligations with respect to the sufficiency of exchanged value.
Verified Answer
MS
Mitali SabooMay 11, 2024
Final Answer :
A
Explanation :
An individual cannot offer as consideration a duty they are required to perform under the law.A parent is required to watch their children in this scenario.
Learning Objectives
- Analyze the legitimacy of contractual obligations with respect to the sufficiency of exchanged value.