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hi im david cameron for todays two minute tuesday i wanted to talk a little bit about contracts generally and theres a little bit of a quiz in todays two minute tuesday i want to give you two different hypotheticals and think to yourself which one of these is a binding contract in the first hypothetical your dear aunt sally decides that because shes so fond of you she wants to give you 500 next week and you say aunt sally thats great i really appreciate it can you put it in writing for me and so aunt sally says fine she writes up a very formal contract she has docHubd she has a witness she signs it herself and youre all set to go in the second hypothetical youre at a bar with a friend and your friend says hey im running a little low on cash right now if you buy me a beer today ill happily pay you ten dollars tomorrow and the question is which of these hypotheticals is a binding contract in the state of maryland and the answer may surprise you its actually the situation in