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In a shocking upset that stunned the planet and parts of the galaxy, Mercer beat Duke 78-71. After the loss, White refused to make good on the bet, instead offering Hoyt tickets to a Bears game. Cue the social backlash. So heres the question: did White and Hoyt have a binding contract that requires White to pay up? In order to have a binding contract, you need to have a three things: an offer, an acceptance and something called consideration.  Its not crazy to say that the first 2 elements are met here. White made an offer, and Hoyt accepted the offer when he can excitedly tweeted "Ill take that offer!". So far so good for Hoyt. On to the third element of consideration. Consideration is an essential element for the formation of a contract. In order to have it, each side has to promise or provide something of value to the other. You give me something and I give you something. Without this exchange, there is no contract.  For example, if you express an interest in my banjo and I agree to sell it to you for $50,000, we have the consideration we need to say we have a contract. Im getting $50K and youre getting an awesome instrument that brings people together. This is where things fall apart for Hoyt. This deal didnt have the requisite consideration. The value only flowed in one direction – to Hoyt. There was no value going the other way to White. The deal was one-sided. That means we dont have a binding contract. You might be able to argue consideration if White had tweeted out that if you follow him and Duke loses, he will give away season tickets. In this case, it could be said that White is getting value because when people follow him, his brand becomes more valuable which in turn can translate into sponsor dollars and marketing opportunities.  Theres also another problem for Hoyt. Before you can say there is a legally binding contract, you have to show that both sides intended on entering into the contract in the first place. That would be tough to show here. Ultimately, White would say he was just joking. He doesnt know Hoyt and the tickets he offered arent even available. This all went down in the informal environment that is Twitter. A contract was never contemplated. So all this means that there is no binding contract between White and Hoyt, and as a result, Hoyt cant force White to cough up the season tickets. That being said, the next question to answer is whether White should provide Hoyt with season tickets. And thats something I suspect everyone has an opinion on including my banjo teacher. Keith Yandle Jersey . JOHNS, N. Custom Florida Panthers Jerseys . 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