Jill promised her great-grandson Jack that he would be paid a sum of $5,000 if he refrained from drinking, using tobacco, and gambling until he turned 21.  Jill passed away before she was able to transfer the amount promised to Jack on his 21^st birthday and the executor of her estate refused to give that amount to Jack.  Jack claimed that his great-grandmother entered into a binding contract with him, which he accepted by refraining from drinking, smoking, and gambling until he was 21.   The executor claimed that Jack did not have the proper consideration to enter into a binding agreement because he did not provide anything of value in exchange for the $5,000. Everything he did was necessary for his own health and welfare and could not be sufficient legal consideration for a contract.

1. Does Jack have a valid contract with his great-grandmother?
2. What does it mean to have sufficient "consideration" to enter into a contractual agreement? 

Answer rating: 100% (QA)

In this scenario Jack may have a valid contract with his greatgrandmother based on the principle of ... View the full answer