Frank owed Alice $5,000.After six months, Alice asked for repayment and Frank said money was tight, and he was stressed about paying her back.Being a very empathetic person, Alice told Frank to forget about it.Three years later,Frank won the lottery.Alice immediately went to Frank and demanded the $5,000.Frank said "no" and stated that her agreement to forgive the debt was enforceable- and she sued.Explain :

a.What is the result of the suit?

b.What is the rule?

For each of the following contracts, state whether or not Alfred will get paid, and briefly explain why:

a.Joy returned from a two-week trip to see that her lawn had been mowed by her neighbor, Alfred, so she said to Alfred- "Thank you so much.In appreciation for your efforts, I will give you $100 tomorrow."The next day, when Alfred appeared Joy did not pay.

b.Wendy borrowed $5,000 from Alfred in 2010 and promised to pay him back in 2011.She did not pay him back, but due to his non-confrontational nature, he chose not to sue her, but when he needed money in 2019, he wanted to sue her, but the statute of limitations had expired.When made aware of his need, Wendy agreed to pay the $5,000 on June 1, 2020.However, when Alfred showed up to collect, Wendy did not pay.

5. a.Tanya offered to sell her used iPhone9 to Omar for $100.Omar said he wanted to think about it, while he checked on the cost of replacing the battery for it, so he askedTanya if he could have a few weeks to think about it and Tanya said "sure."Three days later, after determining that it was a good deal, Omar returned to Tanya to accept the offer, and said "Hey- nice to see you.I want to tell what I decided."But before he could say anything else, she said,"By the way- I changed my mind- the price is now $200- do you still want the phone?"Omar replied "That's not fair.I accept the offer of $100, but not a penny more."Is there an valid contract at $100?Explain.

b.Beth was socializing with Kyan, who was smoking marijuana (they were in Newark, NJ, where personal use was legal).As an internet food delivery person and knowing that Kyan was quite high from smoking and not of sound mind, she had Kyan sign an agreement for food delivery every Thursday, for $100 per week.After three weeks of delivery of food, and without paying his bill, Beth went to court, demanding $300, but Kyan asserted that Beth took advantage of his impaired mental state and asserted that the contract was voidable and that he owed her nothing, and that the contract should be declared a nullity and be canceled, although he did admit the three weeks of food he received was delicious.What is theresult in court?

c.Joel saw that the Red Cross was having a pledge drive.He realized how much he valued the Red Cross, so he called on the phone, gave his name and address, and promised to make an electronic fund transfer of $500 to the Red Cross within 48 hours.However, the funds did not transfer and one week later, the Red Cross sued Joel.He apologized but claimed the agreement was void due to an unforeseen change in financial circumstances.What will the court rule?Explain.

d.Same as "c" above, except as soon Joel made his promise, the Red Cross went out and purchased a new rack-mount computer server that cost $500. Assume all other facts from "c" above- will that change anything in the court's ruling?Explain.