Dora Lynn threatens Betty Jo, the owner of a local hair salon, saying, "I will burn your business down unless you agree to pay me $10,000. To get Dora Lynn to leave the salon, Betty Jo says: "Okay, I will pay you $10,000 after I go to the bank." Is Betty Jo's promise enforceable? O A. No, contracts based on illegal consideration are not enforceable O B. Yes, there was an offer, acceptance and consideration O C. No, the promise was not in writing O D. No, it was an illusory promise O E. Yes, provided there were witnesses to the statements
Dora Lynn threatens Betty Jo, the owner of a local hair salon, saying, "I will burn your business down unless you agree to pay me $10,000. To get Dora Lynn to leave the salon, Betty Jo says: "Okay, I will pay you $10,000 after I go to the bank." Is Betty Jo's promise enforceable? O A. No, contracts based on illegal consideration are not enforceable O B. Yes, there was an offer, acceptance and consideration O C. No, the promise was not in writing O D. No, it was an illusory promise O E. Yes, provided there were witnesses to the statements
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:Dora Lynn threatens Betty Jo, the owner of a local hair salon, saying, "I will burn your business down unless you agree to pay me $10,000." To get
Dora Lynn to leave the salon, Betty Jo says: "Okay, I will pay you $10,000 after I go to the bank." Is Betty Jo's promise enforceable?
O A. No, contracts based on illegal consideration are not enforceable
O B. Yes, there was an offer, acceptance and consideration
O C. No, the promise was not in writing
O D. No, it was an illusory promise
O E. Yes, provided there were witnesses to the statements
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