Obligations Without contract - answer✔Quasi Contract- party has benefitted and knew they
benefited but didnt stop them still pay
Unwritten Rule- not agreement but known
Promissory Estoppel- 1 person relies on someone else promise.
Promissory Estoppel Factors - answer✔1) Need Promise
2) Promisor foresees reliance
3) Promised person relies on the promise
4) injustice results
Offer Parts - answer✔1) Objective indication of present intent (reasonable person thinks its a
contract)
2) Specificity of Terms
3) Communication of Offer
Auctions - answer✔Treated as invitation. Once negotiation is done there is a contract. Sellers
offer people to bid, goes to highest bidder.
Rewards - answer✔Need to have intent during the process.
Ads - answer✔not contract unless there is specificity. only an invitation
Revocation - answer✔offers are revocable before acceptance except for sometimes
Revocation Exceptions - answer✔1) Option- offeror agrees to not sell offer due to down
payment
2) Firm Offer- Sale of goods, gives assurance that offer will be held open
3) Unilateral Contract- can't stop halfway
4) Promissory Estoppel- reliance on promise
Rejection - answer✔Unwilling to accept offer. Time sensitive except:
Death or insanity
Destructive subject matter
Intervening Illegality
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