Logan advertises a reward for the return of his lost dog. Miguel does not learn of the reward but finds and returns the dog. With respect to Miguel, Logan’s ad is not an offer because it lacks the element of

Rasheed defends against a breach-of-contract suit by Student Loan Corporation by claiming that their deal—a student loan—was unfair because the consideration for the contract was inadequate. With respect to Rasheed’s defense, the court will most likely rule in favor of the lender on the ground that

Kara enters into a contract to buy a thoroughbred from Rancho Mesa. Kara can disaffirm the contract

Olga decides to sell her ranch, Pine Valley, in a live auction. When the auctioneer puts the property up for bids, it will be a(n)

Fabien offers to sell his Graphic Signs LLC business to Hanna for $100,000. Hanna replies, “The price is too high. I will buy it for $75,000.” Hanna has

Pablo, a minor, enters into a contract to buy two all-season passes from Chalet Ski Park. The contract will be made enforceable if Pablo

Contracts made by mentally incompetent persons can be

Fritz offers to buy a guitar owned by Holly for twice what she paid for it. She accepts and hands the guitar to Fritz. Holly’s delivery of the guitar is

Rough Waters LLC and Schafer enter into a contract for the delivery of a certain number of river rafts. Until the rafts are delivered and paid for, the parties have

A nonprofit benefited from voluntary services of two attorneys.  One served as a member of the Society’s board of directors, performing tasks comparable to other directors.  During the year, he attended 20 hours of meetings.  The other drew up a lease agreement with a tenant in a building owned by the nonprofit.  She spent five hours on the project.  The billing rate of both attorneys is $200 per hour.  In the year in which the services were provided, the nonprofit should recognize revenues from contributed services of