Engineering Economy
Engineering Economy
16th Edition
ISBN: 9780133582819
Author: Sullivan
Publisher: DGTL BNCOM
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Chapter 2, Problem 5P
To determine

Selling car.

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Dana was dating Wade, a wealthy real estate entrepreneur. Wade was much older than Dana and knew he needed to offer something “special” to make her stay. Wade told Dana that if she continued dating him, he would pay her $10,000 a month. Wade paid Dana for two years when suddenly, for no apparent reason, he stopped the monthly payments. Dana stayed with Wade for another six months, but decided enough was enough and left. She wanted the $60,000 she was owed for the six months; Wade refused to pay her. Is Dana entitled to the $60,000?
John was a troubled teen and got arrested several times and even spent some time in a juvenile detention center. John is now 22 years old and briefly attended Highline College but dropped out and has no job. John’s grandmother is very concerned, so she promised John that if he got a steady job, did not break the law again, and if he went back to Highline College if he could be re-admitted, she would pay John $50,000. John loved his grandmother and he promised to do all of that for her. Discuss whether these various promises on John’s part would constitute valid consideration for the payment of the $50,000. Please fully explain your answer for all the points.
Luis and his best friend Faith want to spend as much time as possible at the local amusement park this summer, so they’re going to buy season passes. The passes are normally $120 each, but for three days only, they’re on sale: Buy one, get one half off. Luis agrees to wait in line to buy them the season passes, and they’ll split the cost evenly. How much will Faith owe Luis?
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