Business Law: Principles for Today's Commercial Environment 3rd Edition by Marianne Moody Jennings, David Twomey, Marianne Jennings

Exercise 8

On the death of their mother, the children of Jane Smith gave their interests in their mother's estate to their father in consideration of his payment of $1 to each of them and his promise to leave them the property on his death. The father died without leaving them the property. The children sued their father's second wife to obtain the property in accordance with the agreement. The second wife claimed that the agreement was not a binding contract because the amount of $1 and future gifts given for the children's interests were so trivial and uncertain. Decide.