What was Bean's consideration in this alleged contract?
Hall sponsored a boat race in which the first prize was advertised as 1 14-foot boat trailer and 20-horsepower motor. After verifying with Hall that the prises advertised were correct, Bean entered the race and won. When he went to collect the prizes, he was told that there had been a mistake and was offered a 6 horsepower motor as first price. Bean sued, alleging that he had a contract for the prizes offered. Does Bean get to have the 20-horsepower boat? Explain.
eggxex
To determine whether Bean would be entitled to the 20-horsepower boat as the first prize, we need to consider the legal principle of "consideration" in contract law.
Consideration refers to something of value that is exchanged between parties to a contract. It can be money, goods, services, or even a promise to do or not to do something. For a contract to be legally binding, there must be valid consideration involved.
In the given scenario, we are told that Hall sponsored a boat race and advertised the first prize as a 14-foot boat trailer and a 20-horsepower motor. Bean entered the race and won. However, upon going to collect the prizes, he was informed that there had been a mistake, and he was offered a 6-horsepower motor instead of the advertised 20-horsepower one.
To determine if Bean has a valid contract for the prizes offered, we need to consider whether there was valid consideration exchanged between Bean and Hall. In other words, did Bean provide something of value in exchange for the advertised prizes?
In this case, Bean's participation in the race and his subsequent victory can be considered as valid consideration for the advertised prizes. By participating in the boat race, Bean expended time, effort, and potentially incurred expenses. Therefore, he fulfilled his part of the bargain by providing consideration to Hall.
On the other hand, Hall's promise to provide the 14-foot boat trailer and the 20-horsepower motor constitutes consideration as well. By advertising these prizes and verifying their correctness to Bean, Hall created a legitimate expectation that Bean would receive those specific prizes if he won the race.
Given these considerations, it can be argued that a valid contract was formed between Bean and Hall. Bean's participation in the race, coupled with Hall's promise to provide the advertised prizes, creates an enforceable agreement.
Therefore, Bean should be entitled to the 20-horsepower boat, as it was the first prize offered and for which he provided valid consideration.