Chapter 15 questions/our case conclusions

Kelly Miller, Alexandra Bolin, Abdullah AlKabour, Scott Richardson, Blake Friedman, chase ayres, Michael Fry, Dominick Sciola, Brook Tuttle, Chase Ayres, Scott Belz, Kiernon Hopkins, Brendan Feliczak

Chapter 15

Question 6:
The arbitration agreement was enforceable because its terms provided for consideration such that it was not illusory. By signing the arbitration agreement she waived her right to a jury. There was a benefit to the offeror (Circuit City) so there was consideration. A promise to stay in a job completing what the employer asks is a benefit.

Question 8:
According to the common law, both contracts were bilateral. We agreed that the second offer is invalid because it lacks consideration due to a pre-existing contract duty. We determine that Sorichetti developed a new contract, in order to receive more money on the house. This benefit could have proved to be consideration for the second contract, however it is invalid because of the pre-existing contract duty.

Question 12:
We have come to the decision that there was a breach of contract on the side of the bank. This was a oral, unilateral contract between Deutsche Bank and Arnone, in which Arnone performed adequately enough to secure the bonus promised to him by the bank upon securing the 9 billion dollar account. Based on the information provided, we believe there was consideration in forming this contract. Based on the facts provided, we feel that the court should enforce the supervisor’s promise to give Arnone a bonus of at least $800,000 upon performance.