Asked by Becca Moore on Jul 09, 2024

Verified

Mr. Megabucks promises the Turtle Preservation Society of Victoria that he will give it $500,000, provided it names the new headquarters building it wants to erect after him. The President of the Society tells him that his generous donation will allow them to carry on their turtle preservation work while getting decent working conditions for their staff and, at a ground-breaking ceremony soon after, the announcement is made that the building will be named after Mr. Megabucks. Four months later, Mr. Megabucks suffers severe business reversals and decides to withdraw his promise.

A) Since there was no consideration for his promise, Mr. Megabucks may revoke it at any time without being sued.
B) Mr. Megabucks is morally obligated to give the money to the Society, so the courts would enforce the promise.
C) The Society can enforce Mr. Megabucks' promise because it would not have begun to build the new headquarters if he had not made it but would have spent it on turtle preservation.
D) The Society can argue successfully that it gave consideration for his promise by naming the building after him as he requested, and Mr. Megabucks' argument that that was not adequate consideration for a promise to pay $500,000 will not succeed.
E) The Society can enforce Mr. Megabucks' promise because it would not have begun to build the new headquarters if he had not made it, but would have spent it on turtle preservation and the Society can argue successfully that it gave consideration for his promise by naming the building after him as he requested. Mr. Megabucks' argument that that was not adequate consideration for a promise to pay $500,000 will not succeed.