Promissory estoppel Study guides, Class notes & Summaries

what are the three ways contracts can be formed? - Answer-written, oral, or based upon conduct what is an express contract? - Answer-fully & explicitly stated in writing or orally expressed to offeree what is an implied contract? - Answer-conduct creates a contract; implied by fact or law what is a quasi contract? - Answer-a court finds that the plaintiff gave a benefit to a defendant reasonably expect to be paid what is a promissory estoppel? - Answer-doctrine used by plaintiff to enforce ...

An offeree's response to an offer in which the offeree rejects the original offer and at the same time makes a new offer is a: a. cancellation. b. revocation. c. withdrawal. d. counteroffer. correct answers d. counteroffer. Termination of an offer by operation of law can occur due to which of the following? a. Frustration of purpose b. Bankruptcy proceedings c. Lapse of time d. All of these answers are correct. correct answers d. All of these answers are correct. In contract l...

Gold Coast Real Estate Homework Chapter 12 100% SOLUTION 2023//2024 Which legal instrument evidences the debt and states the interest rate, term, payment requirement, and other information related to the loan? (a) Promissory note (b) Contract (c) Lien (d) Mortgage - ANSWER (a) Promissory note What is the function of a mortgage? (a) It conveys title to real property. (b) It secures the repayment of the debt. (c) It creates a personal pledge to repay a loan. (d) It creates a lien ...

A bid is a written offer to perform and is not binding until accepted T/F? - True A condition precedent is A) evidence of prior dealings between the parties proving one is entitled to payment B) A legal term concerning personal injury claims C) an act or event that must take place to trigger an obligation D an illness suffered by all lawyers - C) an act or event that must take place to trigger an obligation A covenant not to compete, also known as a "non-competition agreement" is never e...

Law 3220 Clemson Exam 3 – Jahn (2023/2024) Already Passed A contract may be based on a promise not to do something. (T/F) True You return a lost dog to its owner. You did not know a reward was being offered for the dog. You do not have a legal right to the reward. (T/F) True You leave your poodle at a new grooming shop and tell them to wash the dog⎯a $30 service. They do that and also paint the poodle's nails and tie ribbons in his hair⎯these services are an extra $10. You pay them for...

MMC4200 EXAM 3_ Final Review Quiz With Correct Questions and Answers 100% A+ What is a subpoena? - CORRECT ANSWER-A court order requiring someone to appear in court. How does a subpoena differ from a search warrant? - CORRECT ANSWER-Subpoena: provide the press with notice prior to the search and allow editors and reporters to challenge the issuance of it. Warrant: Unannounced There is reason to believe that giving a subpoena would result in the destruction, alteration or concealment of...

Requirements for a valid contract - -Offer -Acceptance -Consideration -Capacity -Authority Trident v. Austin (2003) - -Austin told Trident that they would come back to them and use them if they won. -Austin did win, but did not go back to Trident -Trident could've offered a backup to their $5.2M. Promissory Estoppel and Detrimental Reliance - an equitable doctrine that prevents the withdrawal of a promise by a promisor if it will adversely affect a promisee who has adjusted his or her...

An offeree's response to an offer in which the offeree rejects the original offer and at the same time makes a new offer is a: a. withdrawal. b. counteroffer. c. revocation. d. cancellation. correct answers b. counteroffer. A common law rule that requires that the terms of the offeree's acceptance adhere exactly to the terms of the offeror's offer for a valid contract to be formed is known as detrimental reliance. a. True b. False correct answers b. False In contract law, conside...

B - correct answer Under the __________________ model of business ethics, firms focus on engaging in sustainable business practices and helping solve social problems. A. moral minimum B. corporate citizenship C. maximizing profits D. stakeholder interest E. promissory estoppel F. civil servant B - correct answer Which of the following are elements of a common law contract? I. agreement II. acceptance III. consideration IV. capacity V. coalition VI. intent VII. lawful purpose ...

Jackie agrees to pay Ben $1,000 if Ben agrees to not go skydiving for six months. After Ben avoids skydiving for six months, he asks Jackie for payment. Jackie declines to pay Ben the $1,000. The contract between Jackie and Ben: - Answer-will be enforced because Ben exercised forbearance which is legally sufficient consideration. Michael agrees to buy Randy's wheelbarrow for $100. After the agreement is reached but before performance begins, both Michael and Randy agree to terminate the co...