Justin lived with Jeremy in the same house and many regard him as a family member.  Justin, Jeremy and Jeremy’s wife Lucille all contributed monies each week with respect to the weekend’s lotto, for the last few months with the goal of striking it rich. The Lotto currently stands at $20 million dollars. Over the last few months, Jeremy travelled   to the  lottery agent to play the selected numbers. There is an informal agreement between Justin and Jeremy, in respect  of travel expences pertaining to the weekend’s Lotto,  which they agreed will be shared amongst the three (Jeremy’s wife Lucille to be included as well ). They also agreed that whosoever wins the Lotto, the prize money would be shared amongst the three in equal porportion. Lucille  was not present at the time of the agreement in respect of the sharing

ENGR.ECONOMIC ANALYSIS
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Justin lived with Jeremy in the same house and many regard him as a family member.  Justin, Jeremy and Jeremy’s wife Lucille all contributed monies each week with respect to the weekend’s lotto, for the last few months with the goal of striking it rich. The Lotto currently stands at $20 million dollars.

Over the last few months, Jeremy travelled   to the  lottery agent to play the selected numbers. There is an informal agreement between Justin and Jeremy, in respect  of travel expences pertaining to the weekend’s Lotto,  which they agreed will be shared amongst the three (Jeremy’s wife Lucille to be included as well ). They also agreed that whosoever wins the Lotto, the prize money would be shared amongst the three in equal porportion.

Lucille  was not present at the time of the agreement in respect of the sharing prize moneies in the event  the parties won the Lotto.  However,  it was assumed that she will agree to the terms, because  she was quite aware of  the informal arrangements between Justin and Jeremy.

One day, Lucille was asked to travel and play the selected numbers and  to everyone surprise, those numbers  won the lotto that weekend, in the sum of $20 million dollars.  Justin upon hearing the news could not control himself with happiness, “I am rich, I am rich”, he kept saying.

However, Lucille  refused to pay the 1/3rd share to Justin, enunciating that the arrangement mentioned above  between Justin and Jeremy was arrived in a domestic settings, for which she was not present. She claimed that no legal consequences can be derived from  that informal arrangement between Justin and Jeremy,  as such no contract existed.

Advise  Justin on this matter.             

Please answer using the IRAC model.

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