Facts: Stephen Son was a part owner and operator of two corporations. Because the businesses were corporations, Son was not personally liable for the debts of either one. Jinsoo Kim invested a total of about $170,000 in the companies. Eventually, both of them failed, and Kim lost his investment. Son felt guilty over Kim’s losses. 

Later, Son and Kim met in a sushi restaurant and drank heroic quantities of alcohol. At one point, Son pricked his finger with a safety pin and wrote the following in his own blood: “Sir, please forgive me. Because of my deeds you have suffered financially. I will repay you to the best of my ability.” In return, Kim agreed not to sue him for the money owed.Son later refused to honor the bloody document, and pay Kim the money. Kim filed suit to enforce their contract. The judge determined that the promise did not create a contract because there had been no consideration. 

Questions:

1. Was there consideration?

2. What did the court determine?