Smith was part owner and operator of two corporations. Because the businesses were corporations, Smith was not personally liable for the debts of either one. Kern invested a total of about $170,000 in the companies. Eventually, both of the companies failed, and Kern lost his investment. Smith felt guilty over Kerns losses. Later, Smith and Kern met in a sushi restaurant and drank heroic quantities of alcohol. At one point, Smith pricked his finger with a safety pin and wrote the following in his own blood: Please forgive me. Because of my deeds, you have suffered financially. I will repay you to the best of my ability. In return, Kern agreed not to sue him for the money owed. Smith later refused to honor the bloody document and pay Kern the money. Kern filed suit to enforce their contract. Smith has filed a motion to dismiss, arguing that there is no consideration. The court has scheduled a hearing to hear from both parties on the issue.

1. Prepare a concise statement of the facts in your own words. Your summary should be complete enough to lay the foundation for the discussion to follow. This task should not be directed toward one party or the other but should be about giving the court the information necessary to understand and decide the case. 2. Prepare a statement of the applicable law. What rules will the court be applying? Is the case about whether an offer was made? Then describe the requirements for a valid offer. Is this about promissory estoppel, then describe the elements of promissory estoppel. Again, the task here is to accurately inform the court of something it needs to understand to make the decision. 3. Prepare an argument on behalf of the plaintiff. Apply the facts (#1) to the law (#2) to persuade the court that your client (plaintiff) should prevail. 4. Prepare an argument on behalf of the defendant. Apply the facts (#1) to the law (#2) to persuade the court that your client (defendant) should prevail.