LGLS 1102 Lecture Notes - Lecture 2: Digital Signature, Oral Contract, Cheesesteak
Document Summary
If you give up something you get something in return. Yale graduate, finds out that his nephew is going to yale and is afraid he is going to screw up and tarnish his reputation. He says if at your 4 years of yale, you give up wine women and song, when you graduate, i"ll give you 10,000 in the year. He gives up wine, women, and song and is now trying to collect his money. Son says that is not something of economic value so he shouldn"t get paid. Ruling: you have the right to drink, party, and date and if you give up those rights, it"s consideration. Anything whether it"s social, economic or anything else it still has consideration because you"re giving up something. Is one in which the act of performance is left solely up to one party. Example: i will buy as many books from you as i want at . 00.
