On May $1,$ Ricky agrees to install a concrete driveway at Lucy's house by May $30,$ in exchange for Lucy's promise to pay $$2,300$ upon completion of the work. Which of the following statements is true?

Ricky can break his contract with Lucy to accept a better paying job because Lucy has not given consideration for Ricky's promise to install the driveway until she pays the $$2,300.$

Lucy can hire someone else to do the job without any liability to Ricky if Ricky hasn't completed the job, because until then Ricky has not given any consideration for Lucy's promise.

Both Lucy and Ricky have given consideration for the other's promise; therefore, neither can refuse to perform without breaching the contract.

If Lucy later learns that other companies would have done the job for slightly less, she can cancel the contract based on inadequate consideration.