Comic Book #2
Storyboard Text
- Welcome to the town of Contractopia! My name is Sam and I am going to teach you about legal contracts.
- Today we are going to look at "consideration," which is one of the 6 elements that a contract must have in order to be legal
- So, what exactly is consideration? Consideration is the value exchanged between 2 parties. It separates agreements from contracts.
- Let's take a tour of Contractopia and look at examples of consideration happening in daily life! We will also evaluate if these examples are valid exchanges of consideration.
- Hm... Can we do it for $8 a lesson? I just got fired from my job.
- Oh no! John, I want the lead role for the school play, but I can't sing!
- Consideration is bargained for
- Don't worry, Emma. I offer singing lessons for $10. I'll give you lessons every Friday of you agree to pay me $10 a lesson.
- It's a deal for $8! You'll get the role in no time!
- This is not a valid contract because the stolen bike is an illegal piece of property!
- Consideration must be legal
- Hey Lily, I'll sell you this bike I just sold for $200. It's in perfect condition.
- It's a deal!
- Yippee! I am going to pay early on the 3rd day so that I get a 2% discount and you get your money early!
- Paying debts in advance
- I'll sell your new candle collection in my store. Your credit terms are 2/10 net 20.
- Sounds good to me
- Yeah, about that.... I don't think I can donate the $7,000 I promised.
- Charitable pledges are enforceable
- I hate to tell you, but you are bounded to pay the money because charitable pledges are enforceable and we're dependent on the money!
- Because of your generous charitable donation, we already started the construction of our new gym!
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