Upon graduating from college, Kathy announced her plans to enter law school the following fall and to marry Rick in December. Kathy's father was afraid that marriage during her first year in law school might cause her to fall behind in her studies or cause her to drop out of school. He called Kathy and promised her $10,000 if she postponed her wedding until after completion of her first year of

law school. Kathy agreed and postponed the wedding for a year. Kathy successfully completed her first year of law school, but soon thereafter, Kathy's father died. The administrator of her father's estate claimed she was not entitled to the $10,000 because there was no consideration for her father's promise. If Kathy sues the estate, she will probably be
A) unsuccessful because her father's death terminated the contract.
B) successful, as there was consideration.
C) unsuccessful because her father received no benefit.
D) unsuccessful because it was merely fatherly advice not to get married during the first year of law school.


B

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Gage began a defined benefit pension plan on January 1, 2015. During 2015, the service cost was $450,000. Gage contributed $450,000 to the pension plan for 2015. The actuary said the projected benefit obligation at December 31, 2015 was $450,000. As of December 31, 2015, what statements can Gage make about the pension plan? I. The pension plan is fully funded. II. Gage does not need to report a

liability regarding the pension plan at December 31, 2015. ? A) I B) II C) both I and II D) neither I nor II

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Which of the following is a key performance indicator of the financial perspective in a balanced scorecard?

A) hours of employee training B) number of warranty claims C) percentage of market share D) return on investment

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How should these stock rights be treated in earnings per share calculations for the year ending December 31 . 2012?

a. The stock options are antidilutive and should not be included either in basic and diluted earnings per share. b. The stock options are dilutive and should be included both in basic and diluted earnings per share. c. The stock options are dilutive and should be included both in basic and diluted earnings per share in the amount of 333 shares. d. The stock options are dilutive and should be included only in diluted earnings per share in the amount of 333 shares.

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Define the term mentor and explain why mentoring is important.

What will be an ideal response?

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