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Question
John promised the other co-owners of the ship Sea Fairy that he would insure the ship for an upcoming voyage. However, John fails to insure the ship. The ship is shipwrecked in a turbulent sea. The co-owners sue John for breach of contract. Will they succeed?
A. Yes, because there was a valid and binding contract between the co-owners.
B. No, because it was a purely gratuitous promise.
C. No, because an intervening cause absolved John's liability.
D. Yes, because of promissory estoppel.
Answer
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