Exam 12: Consideration

Under the doctrine of promissory estoppel, every gratuitous promise is binding if the promisee changes position in reliance on the promise.

Any promise made with respect to a past event is enforceable because the event is cer?tain-it has already occurred.

Chris promises Dina $40,000 if she graduates from Eagle College. Dina enrolls in Eagle, attends full-time for four years, and graduates. When Dina asks Chris for $40,000, Chris says, "I don't re?member promising you $40,000. But if there was a promise, it's not en?forceable, because we didn't bargain for it. And even if there was a prom?ise that would otherwise be enforceable, I revoke it now." Can Dina en?force Chris's "prom?ise"? Why or why not?

Fact Pattern 12-A2 Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deal-a student loan accruing interest at a certain rate and payable beginning on a certain date-was unfair because the consideration for their contract was inadequate. -Refer to Fact Pattern 12-A2. If, as Brad claims, the consideration in this problem is inadequate, it may indicate a lack of