Advising Nick on Binding Contract with Frank

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Question 1
Advise Nick fully as to whether he has a binding contract with Frank?
Case
Frank was concerned about the drinking habits of his nephew Nick. He promises to give him
$1000 if he would not drink for one month. Nick was also concerned about his health and
decides not to drink for the whole of July. He joined AA (Alcoholic Anonymous) as a
member of a group that aims at rehabilitating and managing alcoholics. Nick manages not to
drink for the whole month and says that itr was more of the concerns of his health than the
financial reword. However, Nick had been promised $1000 by his uncle Frank.
Rule
In a contract there are various considerations. A consideration is a factor that is necessary for
the contract information. It consists of a promise to refrain from doing something or carrying
out a desired act that one is legally entitled to do. The question in this case is whether a
promise is binding in law. A promise in law can be defines as an agreement to which the law
annexes an obligation in a contract. Frank has promised Nick that he would give him $1000
after being sober for 1 month. However, this is a promise and does not constitute of a
consideration in a contract (Crandall, and Whaley, 2016). It is not an offer in this case. This
is especially when the promise is in oral discussion and not in any written form. The rejection
or approval of promise in law indicate a radical difference in promise conception and its
adoption. In law it is believed that a promise is equivalent to a contract. However I this case,
Nick was also concerned about his health and that is why it was not a consideration in that
sense. It is not conceivable that a promise in legal wording can mean anything except a

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promise in which a law annexes some obligation. A unilateral contract may mean a contract
or a promise in exchange for which an act or something which is besides other contracts.
Contract-account-act helps to get money faster. No need to wait for the client’s lawyer to
prepare the contract, and then spend time sorting it out. The contract is suitable for simple
transactions that do not need to be described in detail. It can be used if:
The contract will not work if there is a risk that the client will interpret the terms of the
transaction in his own way. Perhaps the client will decide that you are the one who is
collecting, and not he, and will not collect anyone. If there is such a risk, draw up a detailed
contract where you state who does what and when (Fishman, 2017).
Mandatory conditions
By law, you have the right to conclude a contract in writing and orally, but there are
restrictions. A written contract is required if the client is a company or he pays you. If less, an
oral contract is suitable.
Essential conditions
The main thing in the contract is the essential conditions. Without them, it is not valid. There
is no single list of essential conditions for all contracts. The list depends on the nature of the
contract, or, in the language of lawyers, the subject of the contract.
Date on the contract
Writing a date is a must because it helps to avoid uncertainty. For example, under a contract,
the payment term is ten days from the date of signing the contract. If there is no date on the