When Sav was a teenager,he was involved in a boating accident.After seeing the accident,Philip approached in a second vessel and saved Sav's life.Some years later Sav promised to reward Philip for his life-saving actions.He specifically promised to turn over a valuable coin set that he had acquired over the years.On the day he was to deliver the coin set Sav changed his mind and said that although he was grateful,he was not going to part with the coin set.Philip's court action to enforce the promise will
A)succeed because the promise is binding.
B)fail because the promise is gratuitous and not binding.
C)succeed because the previous benefit constitutes consideration.
D)succeed because consideration will be implied at law.
E)fail because a deposit is required when dealing with past consideration.

Question

Quizplus · Accepted Answer

The promise made by Sav to Philip is considered gratuitous because it was made after Philip had already performed the act of saving Sav's life. In contract law, for a promise to be enforceable, there must be consideration, which is something of value exchanged between the parties. Since Philip's act occurred in the past and was not made in exchange for Sav's promise at the time of the act, it does not constitute valid consideration for Sav's later promise. Therefore, the promise is not binding, and Philip's court action to enforce the promise will fail.

When Sav Was a Teenager,he Was Involved in a Boating