Consideration and promissory estoppel

Question 1

to show consideration

Answer 1

bargain or bargained-for exchange

MD: benefit or detriment is sufficient for consideration

Question 2

insufficient consideration

Answer 2

defense to enforcement
prom is not supported by consideration
(no consideration)

Question 3

failure of consideration

Answer 3

defense to enforcement

claim that the party has not performed in accordance with his promise

Question 4

I’ll send you as many widgets as you want to order within the next 2 weeks for $5 a piece
B agrees
consideration..?

Answer 4

B’s promise is illusory

is not consideration for A’s promise

Question 5

gratuitous promises vs executed gifts

Answer 5

promises are not enforceable

executed gifts can’t be taken back

Question 6

factors to distinguish consideration from a condition on a gratuitous promise

Answer 6

language of the parties
commercial vs charitable or familial context
benefit to promisor

Question 7

requirements for promissory estoppel

Answer 7

please fly away instead

promise
foreseeable reliance
actual reliance
injustice without enforcement- detriment that can only be avoided by enforcement of the promise