Bargaining For A Chance
Many judges would consider the "bargaining for a percentage of the proceeds" example above an enforceable contract, even without an implied-in-fact or implied-in-law good faith term. They would view the opportunity to enter into a business relationship to itself be acceptable consideration. Put differently, the mere possibility that the promisor would do business is a valuable product of the bargain even if he does not do anything. Of course, if the promisor entered into the relationship purely with the intent of fraudulently harming the promisee, he could be cited for fraud or bad faith principles that apply to all contracts.
Read more about this topic: Illusory Promise
Famous quotes containing the word chance:
“The more parents intervene, the more siblings fight. And the bigger role parents assume in settling arguments, the less chance siblings have to learn how to resolve conflicts for themselves.”
—Jane Mersky Leder (20th century)