Mark, who recently won a lottery, tells Sean that he will split his lottery winnings with him, if Sean can arrange an interview between Sean's boss and Mark.Sean talks to his boss and the meeting is arranged.But when Sean goes to collect half of Mark's lottery winnings, Mark refuses to pay.What is the act of consideration in this scenario?
A)Mark telling Sean he will split his lottery winnings with him
B)Sean arranging the interview
C)Mark going for the interview
D)Sean asking for half of the lottery winnings

Question

Quizplus · Accepted Answer

Consideration in a contract refers to a bargained-for exchange of promises or acts, where each party gives something of value to the other. In this scenario, Sean agreed to arrange an interview between his boss and Mark in exchange for half of Mark's lottery winnings. Sean fulfilling his promise and arranging the interview is the act of consideration in this scenario. Mark promising to split his lottery winnings with Sean is not consideration because it is only a statement of future intent, and asking for half of the lottery winnings is not consideration because Sean did not promise anything in exchange.

Mark, Who Recently Won a Lottery, Tells Sean That He