Question: What Is Legal Sufficiency?

Where the terms of a promise really bind the promisor to give up nothing and suffer no detriment it is called?

Illusory Promises Sometimes it is an illusory promiseThe promisor actually gives up no consideration, as in “I will paint your house in June if I feel like it.”, where the terms of the contract really bind the promisor to give up nothing, to suffer no detriment.

What is a legal detriment?

legal detriment. In the context of a contract, either something the promisor does or agrees to do, or something the promisor refrains from doing or agrees not to do, as consideration for a promise or performance.

How do I prove my promissory estoppel?

In order for the principle of promissory estoppel to apply, a few elements must be in place, namely:

  1. A legal relationship.
  2. A representation of fact or future fact (promise)
  3. Proof of detriment due to misrepresentation of fact or broken promise.
  4. Proof of inequity between the parties (unconscionability)

What are the 3 requirements of consideration?

Each party must make a promise, perform an act, or forbear (refrain from doing something).

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What are two exceptions to the rule requiring consideration?

One exception to the rule requiring consideration is promissory estoppel. In a bilateral contract the considerations for each promise is a return promise. In a unilateral contract, the consideration is one partys consideration is the promise and the other partys consideration is the act.

What is a valid consideration?

Consideration is some thing of value promised by one party to another while entering into a contract. For a consideration to be valid there must be a promise from both sides. This means that there must be a promise by one party against the promise of the other party.

What makes a promise enforceable?

Factors other than a bargain that make a promise enforceable include reliance on the promise by the promisee, certain promises given in exchange for past or moral consideration, waiver of non-material conditions of a bargain, and promises made in special legally recognized forms, such as promises under seal.

What is estoppel example?

If the court has established in a criminal trial that someone is guilty of murder, the legal doctrine preventing the murderer from denying his guilt in a civil trial is an example of estoppel. noun. 1. An estoppel created by the failure to speak of a party who had an obligation to do so.

What is the remedy for promissory estoppel?

If a party breaches an obligation created by promissory estoppel, a court can choose to assign either reliance damages or expectation damages.

What is estoppel rule?

1. Estoppel is that rule which prohibits a person from contradicting what was earlier said by him in a court of law. Res judicata is that principle which prohibits the other courts from deciding on the same matter, between the same parties which has already been decided by a competent court.

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What are the six types of consideration?

Me too!

  • 1.An offer made by the offerer.
  • 2.An acceptance of the offer by the offeree.
  • Consideration in the form of money or a promise to do or not do something.
  • Mutuality between parties to carry out the promises of the contract.
  • Capacity of both parties in mind and age.
  • Legality of terms and conditions.

What are the three types of consideration?

Kinds of Consideration

  • Executory Consideration or Future Consideration,
  • Executed Consideration or Present Consideration, or.
  • Past Consideration.

What are examples of consideration?

The definition of consideration is careful thought or attention or compassionate regard for someone or something. An example of consideration is someone deciding between two options for dinner. An example of consideration is someone bringing a friend dinner who just had a baby.

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