The Town of Broomville, along with local arts and athletic groups, decided to erect anew community centre for sports, music, and theatre. The total estimated cost was$18,000,000 in April. Jane Borkus, president and CEO of the largest local industry.Autotech, promised to match every dollar raised through other donors, up to$9,000,000. Both she and the delighted town mayor, Geoff Johns, made theannouncement over the local television station and in a joint statement in the town'snewspaper. Borkus said the deadline would be 12 months. The following January,the campaign was proceeding extremely well; other donors had pledges $5,500,000and Borkus presented a cheque for $4,000,000 as Autotech's "down payment andpledge of good will." Unfortunately, in March, Autotech lost its major contract tosupply car parts to one of the big three auto manufacturers. Anticipating a large lossat year's end, Borkus withdrew the pledge and asked for the return of the downpayment. Broomville will argue that:accepted Autotech's offergave consideration in that it raised matching moniesis morally right that Autotech keep its promise

A contract is a legally binding agreement between two or more parties outlining the terms and…

Answered: The Town of Broomville, along with…

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