On October 29, 2018, Alex agrees to paint Georgia’s house during the Thanksgiving holiday for $8,000 in exchange for Georgia’s promise to pay him $8,000 in cash immediately upon completion of the work. Which of the following is true in this case?
Option AGeorgia could hire another painter before the Thanksgiving holiday without legal liability to Alex because until he has painted the house, Alex has not given any consideration for Georgia’s promise to hire him.
Option BAlex could back out of the deal before the Thanksgiving holiday without legal liability to Georgia, since she has not given any consideration for Alex’s promise to do the work until she pays him.
Option CBoth parties are contractually bound on October 29, 2018, since each has given consideration for the other’s promise.
Option DAlex could back out of the deal before the Thanksgiving holiday without legal liability if he can prove that $8,000 is inadequate consideration to paint Georgia’s house (for example, if the fair market value for painting a house the size of Georgia’s house is $12,000).
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