William Storey Sr. promised his nephew, William Storey II, that he would pay him $5,000 if his

Question:

William Storey Sr. promised his nephew, William Storey II, that he would pay him $5,000 if his nephew avoided drinking, using tobacco, swearing, and playing cards and billiards for money until he became 21 years old. The nephew agreed to the offer and kept his part of the bargain. At the age of 21, he wrote to his uncle and asked for the $5,000. The uncle acknowledged the promise, praised his nephew for keeping his part of the bargain, but did not pay the money at that time. A short time later, the uncle died. The executor of his estate refused to pay the nephew, claiming that the contract was invalid due to the lack of consideration. Was the nephew’s promise to avoid drinking, using tobacco, swearing, and playing cards and billiards for money until he became 21 legal consideration?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Essentials Of Business Law

ISBN: 9780073377056

7th Edition

Authors: Anthony Liuzzo, Joseph Bonnice

Question Posted: