Even though Nick was only 15 years old, he had become addicted to cigarettes. His Aunt Rita, realizing Nick's problem, told Nick that if he would refrain from smoking tobacco until he reached the age of 21 years old, she would pay him the sum of $10,000 at the end of each year.

Nick accepted Rita's offer, and promised not to smoke again for the remainder of the year. Has a contract been formed?

a. No, because there is sufficient consideration exchanged from Nick to Rita.

b.	No, because Rita is only making a gratuitous promise to Nick.

c.	Yes, on the basis that there was a mutual exchange of promises, based of legally sufficient consideration.

d.	Yes, but only if the contract is reduced to writing.

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In the provided case Aunt Rita promised 15 years old Nick that if he le... View the full answer