Buyer, Inc., contracted in writing with Shareholder, who owned all of XYZ Corporation's outstanding stock, to purchase all of her stock at a specified price per share. At the time this contract was executed, Buyer's contracting officer said to Shareholder, "Of course, our commitment to buy is conditioned on our obtaining approval of the contract from Conglomerate, Ltd., our parent company." Shareholder replied, "Fine. No problem." Assume that Conglomerate orally approved the contract, but that Shareholder changed her mind and refused to consummate the sale on two grounds: (1) when the agreement was made there was no consideration for her promise to sell; and (2) Conglomerate's approval of the contract was invalid. If Buyer sues Shareholder for breach of contract, is Buyer likely to prevail? 
Yes, because Buyer's promise to buy, bargained for and made in exchange for Shareholder's promise to sell, was good consideration even though it was expressly conditioned on an event that was not certain to occur.  Yes, because any possible lack of consideration for Shareholder's promise to sell was expressly waived by Shareholder when the agreement was made.  No, because mutuality of obligation between the parties was lacking when the agreement was made.  No, because the condition of Conglomerate's approval of the contract was an essential part of the agreed exchange and was not in a signed writing. 
Question: Buyer, Inc., contracted in writing with Shareholder, who owned all of XYZ Corporation's outstanding stock, to purchase all of her stock at a specified price per share. At the time this contract was executed, Buyer's contracting officer said to Shareholder, "Of course, our commitment to buy is conditioned on our obtaining approval of the contract from Conglomerate, Ltd., our parent company." Shareholder replied, "Fine. No problem." Assume that Conglomerate orally approved the contract, but that Shareholder changed her mind and refused to consummate the sale on two grounds: (1) when the agreement was made there was no consideration for her promise to sell; and (2) Conglomerate's approval of the contract was invalid. If Buyer sues Shareholder for breach of contract, is Buyer likely to prevail? 
A. Yes, because Buyer's promise to buy, bargained for and made in exchange for Shareholder's promise to sell, was good consideration even though it was expressly conditioned on an event that was not certain to occur. 
B. Yes, because any possible lack of consideration for Shareholder's promise to sell was expressly waived by Shareholder when the agreement was made. 
C. No, because mutuality of obligation between the parties was lacking when the agreement was made. 
D. No, because the condition of Conglomerate's approval of the contract was an essential part of the agreed exchange and was not in a signed writing. 
Answer: