$.$ A$,$ knowing that B is going to college, promises B that A will give him $$5,000$ on graduation from college. B goes to college, and borrows and spends more than $$5,000$ for college expenses. When he has nearly completed his degree, A notifies him of an intention to revoke the promise. Is A$$s promise binding, and is B entitled to payment upon completion of the degree without regard to whether his performance was $$bargained for.$$

Yes or No and Provide a brief statement as to why?