Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

IRAC 2 - The Tale of the Tales Bobby Joe Tale, the youngest grandson of 7 2 - year - old Jethro Tale, just turned

IRAC 2- The Tale of the Tales
Bobby Joe Tale, the youngest grandson of 72-year-old Jethro Tale, just turned 18 and wanted to attend Eastern Washington University to study accounting as soon as he graduated from Sheney High School. Bobby Joe was raised by his grandparents, and they had previously discussed that if Bobby Joe got a part time job and paid for half of the tuition, Jethro would pay the other half. Four months before graduation, and after already being accepted to EWU, Bobby Joe's 83-year-old grandmother suffered a debilitating stroke. The family had limited funds and could not afford to hire long term care for Bobby Joe's grandmother, so Jethro had to work fewer hours in order to take care of Bobby Joe's grandmother. Bobby Joe's grandmother had only a 5% expectation of living beyond two years following the stroke.
Because of the financial strain, Jethro would not be able to help with tuition at this time. Jethro was also very "anti-debt" and warned Bobby Joe (who was already approved for student loans at a 12% interest rate) to not take out student loans to pay for school. Jethro promised Bobby Joe that if he would wait until he was 21 years old to attend, Jethro would cover the full tuition. They agree, and even shake hands and exchange emails to confirm the agreement. Three years later, Bobby Joe is eager to start the accounting program at EWU and registers for classes. His grandmother's condition has declined, but she is still alive in a round-the-clock care facility, and Jethro can't pay all of the medical bills, let alone pay Bobby Joe's tuition. Jethro tells his son, "I'm sorry grandson... it is going to have to wait at least one more year."
If Bobby Joe sues Jethro for breach of contract, will the court find that there was consideration?
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

12th Edition

ISBN: 1264100671, 978-1264100675

More Books

Students also viewed these Accounting questions

Question

analyze file formats and basic digital design rules.

Answered: 1 week ago