Bar Exam (US) Contracts: Question below is based on the following fact situation. Daisy DuPont w...

Question

Question below is based on the following fact situation.

Daisy DuPont was a descendant of Pierre DuPont, the founder of the DuPont Chemical Company. Daisy, who was very wealthy, owned an extensive art collection that she displayed at Montepellier, her country mansion. While Daisy was away on a Mediterranean cruise, there was a burglary at Montepellier and her favorite Picasso painting, entitled Margaux , was stolen. Although the painting was insured for $1,000,000 by Floyd's of Flounder Insurance Company, it had a market value of over $1,500,000.

When Daisy returned from her trip, she met with Jayson Jewell, a detective employed by Floyd's of Flounder to investigate the theft . During their meeting, Daisy told Jayson that she would pay him an extra $50,000 if he recovered the painting. For the next three weeks Jayson investigated the theft as part of his job responsibilities with Floyd's. Within the course of this investigation, Jayson learned who was responsible for the burglary. As a consequence, the culprit was apprehended and the Picasso painting was recovered and returned to Daisy.

Jayson then requested the $50,000 that Daisy had promised to pay him. After Daisy refused to make the payment, Jayson sued Daisy for breach of contract. Judgment for

AnswerChoose the correct answer.Choose all that apply. Correct Partially correct Incorrect Don't Know

  1. A
    Correct Answer
    Daisy, because her promise was gratuitous.
  2. B
    Correct Answer
    Daisy, because the insurance company owed her a pre-existing duty to find the painting.
  3. C
    Correct Answer
    Daisy, because as an intended thirdparty beneficiary under Floyd's employment agreement with Jayson, she did not incur any legal detriment.
  4. D
    Correct Answer
    Jayson, because the market value of the painting exceeded its insured value, constituting sufficient consideration to support Daisy's promise.
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