Question: What is a gratuitous promise? Give an example.

What is a gratuitous promise? Give an example.

Step by Step Solution

★★★★★

3.43 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A gratuitous promise is a promise for which no con... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

690-L-B-L-C (1936).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

Q:

What is a gratuitous promise? Is a gratuitous promise ever enforceable in the law of contract? Explain your answer.

Q:

1. In the June 2005 agreement, what consideration did Amber offer in exchange for Fredericks granting her a half-interest in the property? 2. Is love and affection alone consideration for a contract?...

Q:

Match each of the numbered definitions with the correct term in the following list. Write the letter of your choice in the answer column. a. Barren promise b. Consideration c. Forbearance d....

Q:

What are the elements of a contract, according to the common law? Are oral contracts enforceable? What is a gratuitous promise? Give an example. What is an unconscionable transaction? What four types...

Q:

What are the elements of a contract, according to the common law? Are oral contracts enforceable? What is a gratuitous promise? Give an example. What is an unconscionable transaction? What four types...

Q:

N agape) . What are the elements of a contract, according to the common law? (Ch. 5) . Is the matter of whether a contract exists judged according to a subjective standard or an objective one?...

Q:

Questions Attempt any 5 questions (2 * 5 = 10) 1. What are the elements of a contract, according to the common law? (Ch. 5) . Is the matter of whether a contract exists judged according to a...

Q:

1.What is the significance of Hamer v. Sidway ? 2.Why is the performance of a pre-existing contractual obligation by the offeree not consideration for an offeror's promise? Give an example. 3.

Q:

Name four circumstances that lead the courts to question whether the consideration received by each party is fair Why is the performance of a pre-existing contractual obligation by the offeree not...

Q:

1. Was VAAF contractually obligated to pay Chad for refraining from smoking? 2. Was there consideration to support its promise to pay $500? 3. Are there other facts you need to know to make that...

Q:

A bone fragment found in a cave believed to have been inhabited by early humans contains 0.21 times as much l4C as an equal amount of carbon in the atmosphere when the organism containing the bone...

Q:

Fearless Furniture Manufacturing (FFM) has been manufacturing furniture for the home for over 30 years. George Fearless, the owner, has decided he would like to manufacture an executive desk that...

Q:

In accordance with the matching principle, inventoriable costs are expensed when the product is finished and in stock. all accounts payable have been settled. the product has been returned. the...

Q:

Consider the market for jet fuel in a remote regional airport. The domestic demand and supply curves are given as (QS are gallons in thousands): P = 55 3QD P = 5 + 7 QS . a What is the market...

Q:

Jack Duran, president of Colorado Carpet Installation, Inc., began negotiations with Fred and Zuma Palermo for the sale and installation of carpeting, carpet padding, tile, and vinyl floor covering...

Q:

On November 1, the Kansas City Post Office Employees Credit Union merged into the Kansas City Telephone Employees Credit Union to form the Communications Credit Union (Credit Union). Systems Design...

Q:

Richardson hired J. C. Flood Company, a plumbing contractor, to correct a stoppage in the sewer line of her house. The plumbing companys snake device, used to clear the line leading to the main...

Q:

Looner Industries is currently analyzing the purchase of a research equipment that costs $160,000 and requires $20,000 in installation costs. The firm will depreciate the equipment under MACRS using...

Q:

Dar una expresin regular para el conjunto de cadenas sobre {a,b,c} con longitud tres, menor que tres, mayor que tres

Q:

Question 28 (5 points) Listen A study was made of seat belt use among children who were involved in car crashes that caused them to be hospitalized. It was found that children not wearing any...