Arnold Enters a Bunco Tournament Hosted by Bunco Players Association

question 6

Multiple Choice

Arnold enters a Bunco tournament hosted by Bunco Players Association (BPA) .During the event,Arnold signs an agreement that stipulates BPA will pay all of the winner's fees and expenses to attend the Bunco World Games,but if the winner does not attend,he or she agrees to repay the funds.Arnold wins and BPA pays his expenses,but he does not go to the World Games.In BPA's suit to recover the expended funds,a court is most likely to rule that the agreement is

• A)an invalid modification of the tournament contract between Arnold and BPA.
• B)binding to the extent that the parties "split the difference."
• C)not binding because it was signed "during the event."
• D)binding and Arnold must repay the funds.

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Definitions:

Promissory Estoppel

A legal principle that prevents a promisor from reneging on a promise when the promisee has relied on that promise to their detriment.

Consideration

In contract law, consideration refers to something of value exchanged between parties, which is necessary for a contract to be legally binding.

Legal Detriment

A loss or disadvantage that occurs as a result of a contract or agreement, serving as consideration for a promise in contract law.

Firm Offer

In contract law, a proposal made by a seller to supply goods or services at a fixed price, which cannot be withdrawn for a certain period.