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Your best friend promises to give you $1,000 next week if you promise to name your next child after him. You make the promise, but
Your best friend promises to give you $1,000 next week if you promise to name your next child after him. You make the promise, but when the time comes for payment he refuses to give you the $1,000. a. He need not pay because there has been no "bargained-for-exchange." b. He need not pay because your promise was not "legally sufficient." c. There is consideration; he is contractually obligated to pay. d. Although there is consideration, the contract is not valid because the agreement attempts to create a bilateral contract in a situation where only a unilateral contract would be effective
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