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If Only one party to an insurance contract has made a legally enforceable promise what kind of contract is it?
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Is a contract a legally enforceable promise or set of promises?
yes any contract is leagaly binding
Is donation a contract?
No, a donation is, by definition, a gift. There is also the possibility of a "pledge", which is a promise of a future donation. Some pledges may be enforceable if they are obtained in exchange for a benefit. For example, "pledge tonight and get a copy of the video", would be an offer to enter into an enforceable contract.
A contract is a single promise made by one person to another enforceable?
A contract needs to show the exchange between parties. One person will do work in exchange for money, for example. If the contract merely said that one person will do work, but it makes no mention of what the other person must provide, the contract is probably not valid and not enforceable.
What is the main difference between a contract and a promise?
in a contract you are legally bound by it and a promise is something u just make someone. so if u break your contract you could go to jail but if u break a promise you might lose a friend or who ever you made that promise with.
Why is there no general legal duty to honor a promise?
If it is not written down an paper and signed it cannot be legally enforced by the court. If someone gives you their promise and then breaks it, while it may not be legally enforceable, it just means that you have been taught a valuable lesson about that person.
Does the promise to do favor create a binding contract?
Depends. If the favor is to give money to charity, common law said yes, and that's one of the few such enforceable promises to make a gift. Otherwise, generally no but facts can vary and if there's any kind of consideration for the promise, it might be enforceable.
Is an engagement ring a contract to marry?
It is a promise to marry and in a way a contract; however the ring does not make the engamement legally binding.
Can a promise to pay someone be consider an enforceable contract?
In general: yes, it could be. If you want to know whether it could be in your specific case... talk to an attorney.
Is justifiable reliance an element of fraud?
Not really, justifiable or reasonable reliance on the promise of another can prevent the promisor from offering the defense that there was no consideration for their promise. An enforceable contract requires an offer, an acceptance, and a consideration (or a bargained for exchange). Under the doctrine of Promissory Estoppel, a promise can be held enforceable as a quasi-contract when it would be reasonably foreseeable to the promisor that the promisee would detrimentally rely on their promise. In that case the promisor would be liable to the promisee for reliance damages and possibly even expectancy damages.
Is a promise enforceable despite the lack of consideration?
No
What evidence is required for an insurance contract to be legal?
I don't think that the term "evidence" is the best one to use. Like any other contract, in order for an insurance contract to be binding and enforceable, 3 elements need to exist: an offer, an acceptance and consideration. As far as insurance contracts are concerned, the offer consists of the application that the proposed insured submits to the insurer when coverage is sought. The application may be submitted directly to the insurer if it is a "direct writer", or more commonly, through an insurance agent. The acceptance is when the insurer accepts the risk as evidenced by the issuance of the policy. The consideration consists of the insured's promise, and fulfillment of that promise, to pay premiums.
Can gratuitous promise be enforceable?
It is always unenforceable; however, estoppel can be used as a "shield" to make it enforceable.
