The questions you should be addressing are "Is there a valid contract?" and "If so, is it enforceable?" Examine each situation using the elements of a contract like a checklist: (1) Offer, (2) Acceptance, (3) Consideration, (4) Competent Parties, (5) Legal Purpose, (6) Proper Form (i.e., does it need to be in writing?). You do not need to deal with Mutual Agreement for this discussion.

Situation 6

Damian and LeBron got into a fight at a nightclub. Damian broke LeBron's arm. LeBron sued Damian for his injuries. Before the case went to trial, Damian offered to give LeBron a $5,000 promissory note (aka, an IOU), payable in 30 days, as full settlement for all claims LeBron had against Damian. LeBron accepted the offer. When the note came due, Damian refused to pay, claiming that there was no exchange of benefits and, therefore, no consideration.