Helen's Burmese cat,Fluffy,became stuck in a tree.Mike,who was passing by,climbed up and rescued Fluffy.Helen thanked him and found out Mike had nowhere to live.She said he could live in one of her units for $25 per week (the rental value was $350 per week)for one year.Mike agreed and even paid her $1.00 in advance. He then jumped for joy and accidentally crushed Fluffy.Helen has refused to go ahead with the rental arrangement.Mike has sued Helen for breach of contract.Under common law,Mike's payment of $1 would probably be classified as consideration that was:

Question

Quizplus · Accepted Answer

Mike's payment of $1 is considered as consideration because it represents a bargain between the parties. The fact that the amount is not adequate does not matter as long as it is sufficient to indicate that both parties intended to be legally bound by the agreement. Therefore, the contract is valid and enforceable.

Helen's Burmese Cat,Fluffy,became Stuck in a Tree