Fran promises to pay her father Sam, who is pre-diabetic, $1000 if Sam gets his blood sugar down to a safe and healthy level within the next two years and maintains such levels for six months. Sam agrees, and through better diet and exercise along with medications reaches the stated goal and maintains such for more than 6 months. He then asks for the money. Fran will not pay, saying that not only did she forgot about the deal, it was a jest. Furthermore, she argues there was no valid consideration for it. Sam files a suit against Fran.

(1) What is sufficient consideration? Quote from the textbook the "two requirements" of consideration.

For example, write the following: "Sufficient consideration is XXX as found on page(s) XXX in the textbook."

(2) In this matter, what is Fran's consideration? (Apply the two requirements found in question 1 in your answer).

(3) In this matter, what is Sam's consideration? (Apply the two requirements found in question 1 in your answer).

(4) Was there sufficient consideration to form a contract? Yes or no. Explain if you wish.

Textbook understanding business law cheeseman 10th ed