Essay
John received a promotion at work and felt new clothes would be necessary in the new position. John went to a local store and charged three ties on his charge account at a cost of $60 each. Bill, a friend of John's, saw a sidewalk vendor selling ties at a cost of three for $10 and bought three at that price. The friends compared purchases that night and found that they had purchased identical ties. John became enraged and said that he would not pay the charge-account bill because the ties were clearly not worth $60 each. Bill indicated that he would testify on John's behalf if litigation ensued. What would be the probable outcome of the lawsuit?
Correct Answer:

Verified
John will lose the case because John rec...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q11: Consideration is the bargained-for exchange between the
Q12: A cancellation provision cannot exist in a
Q13: Ordinarily doing, or promising to do what
Q14: The rule that doing or promising to
Q15: In a contract for the sale of
Q17: Which of the following is not consideration
Q18: An agreement to pay reasonable additional compensation
Q19: A landowner's promise to pay a contractor
Q20: When there is no consideration for a
Q21: An illusory promise creates a bilateral contract.