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Do Now

Do Now. Explain in your own words what the term consideration means in contractual terms. Do Now. Horace Kushner was injured in an accident with Vic Ling. Kushner promises not to sue if Ling promises to pay $1,000. Ling agrees. Is Ling legally bound to his promise?

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Do Now

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  1. Do Now Explain in your own words what the term consideration means in contractual terms.

  2. Do Now • Horace Kushner was injured in an accident with Vic Ling. Kushner promises not to sue if Ling promises to pay $1,000. Ling agrees. Is Ling legally bound to his promise? Yes. Giving up a legal right to do something is a valid detriment. Ling is legally bound to his promise.

  3. Do Now Tammy Carson’s car runs out of gas. Ned Grover, driving by, sees Carson and offers to tow her car to the next service station. Carson accepts the offer. After they reach the service station, Carson tells Grover she will send him a check for $25 for his kindness. Is she legally bound to do so? No. Normally, a promise of a gift is unenforceable. Therefore, she is not legally responsible for the $25.

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