Question

In which of the following situations is there adequate consideration on the part of the promisor to support enforcement of a contract?

a. Bob, a police officer, promises to drive by your house and check on it during his off-duty time.
b. Sam, a first-grade teacher, promises to make sure your child learns his lessons in class for $500.
c. LBM Corporation, at Fred's retirement dinner, promises to pay Fred $2,000 a month during his retirement because of his years of dedication to the company.
d. I promise to buy a bike from you for $400 if I decide I'm going to get a new bike this year.
e. Billy, because of all that his mother did in raising him, promises her that he will buy her a new car.

Answer 1

Adequate consideration is necessary for a contract to be enforceable. Options b and c demonstrate adequate consideration as the promisor is offering a service or payment in return for a promise. Other options lack the necessary consideration.

Step-by-step explanation:

In order for a contract to be enforceable, there must be adequate consideration on the part of the promisor. Adequate consideration means that each party to the contract is giving something of value in exchange for the promise made. Looking at the given situations:

1. Option a: There is no adequate consideration in this situation because Bob is not receiving anything in return for his promise.
2. Option b: There is adequate consideration in this situation because Sam is promising to provide a service (ensuring the child learns his lessons) in exchange for $500.
3. Option c: There is adequate consideration in this situation because LBM Corporation is promising to pay Fred $2,000 a month in recognition of his years of dedication to the company.
4. Option d: There is no adequate consideration in this situation because the promise is conditional upon a future event (deciding to get a new bike).
5. Option e: There is no adequate consideration in this situation because Billy's promise is based on past events (his mother raising him).

Therefore, the situations in which there is adequate consideration to support enforcement of a contract are options b and c.