Describe what rule of the law under consideration supports

Assignment Help Business Management

Reference no: EM13114599

Costello hired Sagan to drive his racing car in a race. Sagan's friend Gideon promised to pay Sagan $3,000 if she won the race, but Gideon refused to pay the $3,000. Gideon contended that no legally binding contract had been formed because he had received no consideration from Sagan in exchange for his promise to pay the $3,000.Sagan sued Gideon for breach of contract, arguing that winning the race was the consideration given in exchanged for Gideon's promise to pay the $3,000. Identify and Explain what rule of the law under 'consideration' supports Gideon's claim?

Reference no: EM13114599

Questions Cloud

Describe which type of group you would form and why : Describe which type of group you would form and why. Discuss the advantages and disadvantages of the using groups to make decisions

Find probability that at most four men would say no : Montreal and ask them if they would be comfortable with a woman asking them out for a date. If the claim made by the study was true, what is the probability that At most 4 men would say no?

Range and mean not good predictor of variability : Four sets are listed in the table below. Each set represents a sample. Find the range, mean, and standard deviation for each set. Use your results to fill in the table.

Values of a policy : An insurance policy sells for $1200. Based on past data, an average of 1 in 125 policy holders will file a $15000 claim, an average of 1 in 100 holders will file a claim of $40,000 and an average of 1 in 250 holders will file a claim of $80,000.

Describe what rule of the law under consideration supports : Costello hired Sagan to drive his racing car in a race. Sagan's friend Gideon promised to pay Sagan $3,000 if she won the race, but Gideon refused to pay the $3,000. Describe what rule of the law under 'consideration' supports Gideon's claim?

Illustrate what is the purpose of sampling : Illustrate what is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain.

Calculate the mass of one oxygen atom : Calculate the mass of one oxygen atom and determine the number of oxygen atoms in a 10.00g sample of the element.

What factors should be considered in making an estimate : What factors should be considered in making an estimate of the loss accrual? What information should management disclose in the footnotes to the financial statements concerning this purchase commitment?

Use alpha to test the researcher-s theory : With a population standard deviation of $7810. Use α = 0.01 to test the researcher's theory. Assume wages in this industry are normally distributed, determine the 99% confidence interval of the population mean.

User Account

All Pages