Pat said:Your friends needs to cancel the contract before he gives it to you and for that he has to pay a lot of money! The total cost involved would reach up to $500-$550 including the cost of cancelling the contract!
ajab.ghajab said:YES you can jailbreak.
And I would love to have such a friend who would sell the iPhone for $200 and keep paying the monthly bill for the next 2 years in dollars