Celine offered Jenna $50 for a six carat diamond necklace. Jenna immediately agreed to sell it to Celine. However, after Jenna went home and looked at it again, she decided that the necklace was worth a lot more than $50
She told Celine she could not sell her the necklace for such a low price. In this scenario, did the parties have an enforceable contract?
A) yes, because all the elements of a valid contract are present
B) no, because the value of the consideration for the necklace is inadequate
C) no, because of the preexisting duty rule
D) no, because of the past consideration rule
A
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