Question 1 1 pts Jake agrees with his best friends Erin and Larry that they will each take turns on Friday nights to buy drinks for the rest of the group. All goes well for the first 2 weeks. In the third week, Larry refuses to pay for drinks for anyone stating that he has just lost his job so he cannot afford to pay for everyone. Which of the following TWO statements is most likely CORRECT? There is no intention to create a legally binding agreement even though there is consideration. Larry does not have to buy drinks for his friends. There is no intention to create a legally binding agreement and there is no consideration. Larry does not have to buy drinks for his friends. There is no legally enforceable contract because there is no real offer and acceptance in this situation. 0 0 Larry is in breach of contract. Jake and Erin have performed their side of the bargain so Larry must perform his side of the bargain too and buy drinks for his friends. There is no legally enforceable contract because, while there is intention from all the parties to enter into a legally binding agreement, there is no consideration since Larry has not yet paid for the drinks. There is no intention to create a legally binding agreement unless there is other evidence which would rebut this presumption. Larry does not have to buy drinks for his friends