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Jerry and Kramer enter a contract for Jerry to buy Kramer's pet rooster for $ 30.

Jerry and Kramer enter a contract for Jerry to buy Kramer's pet rooster for $ 30. Kramer changes his mind and no longer wishes to sell the rooster because he bought the rooster only a few months ago from someone else for $300 and the fair market value of the rooster is at least $480. Can Kramer cancel the contract?

           a.        Yes, because the consideration is unreasonable.

           b.        Yes, because the contract was not in writing and violates the statute of frauds.

           c.        No.

           d.        None of the above.

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Yes, because the... View the full answer

 b.        Yes, because the... View the full answer

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