John was a troubled teen and got arrested several times and even spent some time in a juvenile detention center. John is now 22 years old and briefly attended Highline College but dropped out and has no job. John’s grandmother is very concerned, so she promised John that if he got a steady job, did not break the law again, and if he went back to Highline College if he could be re-admitted, she would pay John $50,000. John loved his grandmother and he promised to do all of that for her. Discuss whether these various promises on John’s part would constitute valid consideration for the payment of the $50,000. Please fully explain your answer for all the points.
John was a troubled teen and got arrested several times and even spent some time in a juvenile detention center. John is now 22 years old and briefly attended Highline College but dropped out and has no job. John’s grandmother is very concerned, so she promised John that if he got a steady job, did not break the law again, and if he went back to Highline College if he could be re-admitted, she would pay John $50,000. John loved his grandmother and he promised to do all of that for her. Discuss whether these various promises on John’s part would constitute valid consideration for the payment of the $50,000. Please fully explain your answer for all the points.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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John was a troubled teen and got arrested several times and even spent some time in a juvenile detention center. John is now 22 years old and briefly attended Highline College but dropped out and has no job. John’s grandmother is very concerned, so she promised John that if he got a steady job, did not break the law again, and if he went back to Highline College if he could be re-admitted, she would pay John $50,000. John loved his grandmother and he promised to do all of that for her. Discuss whether these various promises on John’s part would constitute valid consideration for the payment of the $50,000. Please fully explain your answer for all the points.
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