If you want to create a contract, the minimum you need are three things.
- An Offer
- Acceptance of the Offer
Consideration is a legal term for a “bargained-for exchange,” which is a give-and-take between the parties. And it has to be an exchange that is reasonable. You probably have consideration if you want to sell your car for the Kelley Blue Book value vs selling it for 2 cents.
Check out this Foamy cartoon that appears to create a contract (I heart Foamy):
Here’s the contract offer I heard: Germaine will get Foamy a ninja for Christmas in exchange for shutting up about his disappointment over the ninja gig. And Foamy accepted with the caveats that the Ninja not be American unless it’s Chuck Norris and the penalty for not delivering a ninja would be that thugs get to rape Germaine with her own severed limbs.
Was there consideration? That’s up for debate. Foamy can be pretty awesomely obnoxious. I can see someone offering a higher ticket item to make him shut up. The big problem I see if you can’t make a contract for something that is illegal. Owning a person is illegal which could be one interpretation of the contract’s terms. Foamy’s caveat about the severed limbs obviously doesn’t hold water.
Check how the contract was executed:
It sounds like Germaine was blackmailed into giving Foamy a ninja, which arguably makes this whole exchange invalid since she was afraid for her life and not acting to get the bargained for exchange. Setting that aside, I can see consideration in exchanging a toy for getting someone to shut up. Foamy could argue that both parties knew that he was bargaining for a real, breathing, human ninja, but that would make the contract invalid since owning a person is illegal. In the end, I think Foamy should take his plush ninja and be happy he got a present.
Happy Ninja Christmas Everyone!