Good met a beggar on a downtown street Feeling sorry for the

Good met a beggar on a downtown street. Feeling sorry for the beggar, Good gave him his address, and said that if he would come to Good\'s home that evening at 8 o\'clock, he would give him $5.00 and a suit of clothing. Later in the day Good met with misfortune on the stock market. As a consequence, he experienced a change of heart and refused to live up to his agreement when the beggar arrived that evening at 8 o\'clock. Has Good broken a contract? Explain.

Solution

contract means a voluntary, legally binding agreement between two or more parties. Most of the time contracts are in written format but it also appears in spoken or implied. Here Good said to give $5 and a suit of clothing to a beggar as he felt sorry on the beggar\'s condition. This is not legally binding. After the bad condition of the stock market, Good refused to live up his promise. His promise is not legally binding and not enforceable. So Good has not broken a contract.