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Mobilio, a mobile phone manufacturer, offers TIP Tech $100 million if it agrees not to sell any of its batteries to Honeycrisp, Mobilio's chief mobile
Mobilio, a mobile phone manufacturer, offers TIP Tech $100 million if it agrees not to sell any of its batteries to Honeycrisp, Mobilio's chief mobile phone competitor. If TIP Tech agrees, does this contract have consideration? Yes, because TIP Tech is refraining from doing something and Mobilio is paying money. Yes, because Mobilio is paying money, even though TIP Tech doesn't have to do anything. No, because the price Mobilio is paying far exceeds the value it is receiving. No, because TIP Tech is not giving anything of value
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