Answer must be in IRAC format

J B Hoffman wanted to acquire a franchise from Red Owl Stores. Red Owl told Hoffman that if he would sell his current bakery, Rollin in Dough and buy a certain tract of land on which he would build the franchise building he would be given a franchise. Hoffman bought the tract of land and successfully sold his bakery, but he was not given the promised franchise. Hoffman sued Red Owl for breach of contract. Red Owl's defense was that there was no consideration to support the contract. Was there a consideration? Is there a doctrine that would apply even if no consideration exists? Hoffman v Red Owl 563 N W 2d 13 Mont App 1998