Bill wants to enroll in medical school, but does not have the financial resources to do so. Bill's brother Ted promises to pay for his medical degree after he graduates. Based on this information Bill borrows the money, enrolls, and subsequently graduates. Bill's brother then notifies Bill that he can no longer afford to pay his school loans. Even though there was no consideration by Bill, Ted's promise to pay may be enforceable under which one of the following?

🎲 Try a Random Question  |  Total Questions in Quiz: 59  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
FBLA Business Law Test 4 — practice the complete quiz, review flashcards, or try a random question.


Bill wants to enroll in medical school, but does not have the financial resources to do so. Bill's brother Ted promises to pay for his medical degree after he graduates. Based on this information Bill borrows the money, enrolls, and subsequently graduates. Bill's brother then notifies Bill that he can no longer afford to pay his school loans. Even though there was no consideration by Bill, Ted's promise to pay may be enforceable under which one of the following?






ADVERTISEMENT