John promised the other co-owners of the ship Sea Fairy that he would insure the ship for an upcoming voyage.However,John fails to insure the ship.The ship is shipwrecked in a turbulent sea.The co-owners sue John for breach of contract.Will they succeed?
A) Yes,because there was a valid and binding contract between the co-owners.
B) No,because it was a purely gratuitous promise.
C) No,because an intervening cause absolved John's liability.
D) Yes,because of promissory estoppel.
Correct Answer:
Verified
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