Sameer Promises His Uncle, Farouk, That He Will Study Every

question 10

Multiple Choice

Sameer promises his uncle, Farouk, that he will study every day and earn straight A's during the spring semester in exchange for having his tuition paid for the fall semester. Farouk agrees, but after Sameer studies all semester and receives straight A's, Farouk refuses to pay, saying that no such contract ever existed. Which of the following is true?

• A) Consideration was present, there was an enforceable contract, and Farouk has wrongfully refused to pay.
• B) There was no consideration present, and Farouk has no obligation to pay.
• C) There was no consideration present, but Farouk must pay under principles of promissory estoppel.
• D) There was consideration present, but Farouk is not required to pay because the contract was illusory.
• E) There was consideration present, but Farouk is not required to pay because he did not receive a benefit personally.

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Definitions:

Transumer

A consumer who prioritizes experiences over owning possessions, often engaging in the sharing economy.

Tangible Goods

Physical items that can be seen, touched, and possessed, such as books, clothing, or cars.

Issue Concerns

The degree of importance and attention individuals give to societal, environmental, or ethical issues.

Loss Frames

A communication tactic that presents choices or outcomes in terms of potential losses, influencing decision-making and behavior.