Consideration is something of legal value that each party gives to the contract to bind the agreemen

Consideration is something of legal value that each party gives to the contract to bind the agreement. Read and think about the following short case:

Elvis Presley, a well-known singer and entertainer, was a wealthy person. When engaged to Ginger Alden, he promised Alden's mother, Jo Laverne Alden, to pay off the remaining mortgage debt on the Alden home. However, Presley died before he had the chance to pay off the mortgage. The legal representative of Presley's estate refused to follow through on the promise to pay the mortgage debt amounting to around $40,000. Jo Laverne Alden sued the Presley estate to enforce Presley's promise.

 Was Presley's promise to pay the mortgage enforceable against the estate?Why or why not? Be sure to support your conclusion with facts, definitions, and/or examples

 

Looking for a Similar Assignment? Let us take care of your accounting classwork while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15