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In what circumstances might a promise be enforced despite a lack of consideration?
Usually, a contract is only valid when there is bargained for consideration. However, the promise might still be enforced without consideration in cases that fall under the promissory estoppel. This means that the promise reasonably relied on the promise and has suffered a detriment due to the reliance.
What else can I help you with?
Is a promise enforceable despite the lack of consideration?
No
Consideration is essential ex nudo pacto non oritur actio?
"Ex nudo pacto non oritur actio" is a Latin legal principle meaning that a bare or naked promise cannot be enforced without consideration. Consideration is essential in contract law as it refers to something of value exchanged between parties, which legitimizes the agreement and makes it binding. Without consideration, a promise lacks legal enforceability, reinforcing the idea that mutual benefit is crucial for a valid contract. Thus, consideration ensures that both parties have a stake in the agreement, making it more than just a casual promise.
What type of loss to the promisee requires the promise to be enforced?
apple
What is an assumpsit?
An assumpsit is a promise or undertaking founded on a consideration, or an action to recover damages for breach of a promise.
What the price for which promise of the other is bought?
It is called consideration.
What is mean consideration and promise?
Mean consideration refers to something of value exchanged by parties in a contract, such as money or services. Promise is a commitment made by one party to do something or refrain from doing something in the context of a contract or agreement. Both mean consideration and promise are essential elements of a legally binding contract.
What is a consideration of a contract?
Consideration is the Promise or Performance that flows between the parties to a contract. It is also called legal detriment.
What is a badge of enforceability?
It is consideration given that allows for the enforcement of a promise/contract.
What constitute a valid contract?
An enforceable contract requires the existence of the following elements: an offer, an acceptance that mirrors the terms of the offer, consideration, and lawful subject matter. The "consideration" can consist of money, property, a promise--just about anything of value that is not unlawful. Generally, a court will not inquire into the adequacy of the consideration. "Consideration" might be thought of as the "this for that" or the "quid pro quo". Even of the other elements are present, a contract cannot be enforced if the object of it is unlawful. That is, one cannot, for example, enforce a contract to rob a bank.
What are reciprocal promises?
reciprocal promise is , if free concent and the consideration of both party are there .
One promise may serve as consideration for many return promises?
true
Does uncle jack break his promise?
It is unclear if Uncle Jack breaks his promise without more context. It would depend on the specific promise and circumstances surrounding it.
