Question

Analyze the following three situations: Aaron offers to sell his house in Chicago to Brian for $500,000. Unknown to Aaron, Aaron’s uncle has died and left him a house in Chicago worth $5 million. Brian hears of the uncle’s death, agrees to the offer, and then sues Aaron to have Aaron convey the more expensive property. Is there a contract? Support your answer Every year the Muscular Dystrophy Foundation has a telethon to raise money. In the heat of the moment, Veronica calls in a pledge of $250. When the charity moves to collect the money, Veronica says she has changed her mind. The foundation sues Veronica to redeem the pledge. Will the foundation be successful? Support your answer Bess is 80 years old and takes mediation whenever she has a heart palpitation. As a side effect of the drug, Bess becomes dizzy and disoriented. During the period of disorientation, an encyclopedia sales-person rings Bess’s doorbell and convinces her to buy a set of encyclopedias. The next day, when the effect of the medicine wears off, Bess realizes what she has signed. Can Bess disaffirm the contract? Support your answer

Answer 1

In 1 case.. there is no contract only mutual acceptance is here. And no tranfert is taken place as per information. So aron can refuse to . If transfer of property and consideration in amount is taken place then aron can sue only in case of contract. For contract it should be in written and consideration, transfer of property take place.

In 2 case

A charitable pledge is enforceable if it is a legally binding contract. A legally binding contract exists when there is agreement between the parties and there has been “consideration” given in exchange for the pledge. These are known as the three essential elements of a contract. If any one of the three is missing, the contract is invalid and unenforceable.

The agreement between the parties contains the first two elements: offer and acceptance. The promise by the donor to contribute funds constitutes the offer. The promise should be unconditional or if payment is conditioned upon the occurrence of a specific event, that event should be stated clearly. Acceptance occurs when the charity accepts the pledge. This is usually accomplished by some form of expressed acceptance such as an acknowledgement letter or even the delivery of a pledge card signed by the charity and the donor. It is important for the charity to document its acceptance of a pledge.

The third element of a valid contract—the consideration—is the element most likely to be problematic in the context of charitable pledges, although the law has been drifting in favor of the charities. What does the charity give to the donor that serves as consideration? It could be the written evidence needed by the donor to claim the charitable contribution deduction (although the charity should not issue that until the pledge has been fulfilled). But correspondence indicating that such a valuable document is forthcoming may be useful. Agreement to publicly recognize the donor may constitute consideration; agreement to name a building after the donor is definitely valuable consideration.

So there is foundation be successful when there is legally bind bind contract.

In 3 case

She can refuse by court by proving her medical condition.