Question: Diana and Jim enter into a written contract under which Diana will sell Jim some of her rare comic books for $300. The contract contains

Diana and Jim enter into a written contract under

Diana and Jim enter into a written contract under which Diana will sell Jim some of her rare comic books for $300. The contract contains a list of each comic book that is supposed to be part of the sale. The contract states that it contains the complete and final agreement reached by Diana and Jim. When Jim receives the comics, he is upset to find out that Diana did not include a particular Superman comic. He sues Diana, stating that even though the written contract does not mention that particular Superman issue, he and Diana had orally agreed, just before the contract was written, that she would include the Superman in the deal. Jim wants to submit evidence of their prior oral agreement. Diana argues that such evidence would violate the parol evidence rule. 1. Does this contract have the necessary element of consideration (Chapter 14)? 2. If so, discuss the benefit received by each party and the detriment suffered by each party? In other words, what is each party receiving and what is each party given up? 3. Is this contract enforceable or would it be illegal or violate public policy to enforce this contract (Chapter 15)? 4. Is this the type of contract that falls within the Statute of Frauds (Chapter 16)? 5. Will Jim be allowed to introduce parol evidence to show the party's prior oral agreement before the contract was made (Chapter 16)

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