An uncle, in writing, promised his nephew 5,000 if his nephew would refrain from drinking, using ...

An uncle, in writing, promised his nephew 5,000 if his nephew would refrain from drinking, using tobacco, swearing, and playing cards or billiards for money until the age of twenty-one, all of which was otherwise legal for the nephew to do at the time. The nephew performed as requested. Which of the following statements is true?

a. The uncle's offer was for a bilateral contract.
b. There is no contract because the nephew did not make a promise.
c. There is a valid contract and the nephew is entitled to the 5,000.
d. There is no contract because there is no consideration to support the agreement because the abstention benefitted the nephew.

Using the relative poverty measure, which means being below one half of the national median income, more than 20 percent of the population has been in poverty over the past forty years.

A. True
B. False

When determining if the parties to a contract agree, the intention of the parties is

a. a major factor. c. a minor factor.
b. one of many equally considered factors. d. not considered at all.

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An uncle, in writing, promised his nephew 5,000 if his nephew would refrain from drinking, using ...

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