Chapter 7

Question 1

Bargain

Answer 1

each party pays a price for the promise of the other

Question 2

Consideration

Answer 2

the price for which the promise of the other is bought

Question 3

Gratuitous Promise

Answer 3

a promise made without bargaining for or accepting anything in return

Question 4

Past Consideration

Answer 4

a gratuitous benefit previously conferred upon a promisor

Question 5

Moral Cause

Answer 5

moral duty of promisor to perform his promise

Question 6

promissory estoppel or equitable estoppel

Answer 6

the court’s exercise of its equitable jurisdiction to estop a promisor from claiming that she was not bound by her gratuitous promise where reliance on that promise caused injury to the promisee

Question 7

injurious reliance

Answer 7

loss or harm suffered by a promisee who, to his detriment, relied reasonably on a gratuitous promise

Question 8

Convenantor

Answer 8

one who makes a covenant

Question 9

Document under seal

Answer 9

a covenant recorded in a document containing a wax seal, showing that the covenantor adopted the document as his act and deed

Question 10

Deed

Answer 10

a document under seal, which today is usually a small, red, gummed wafer