Contracts

Question 1

promissory estoppel

Answer 1

A promise is enforceable to the extent necessary to prevent injustice if the promisor should reasonably expect the promise to induce action or forbearance and such action or forbearance is in fact induced.

Question 2

third-party beneficiaries (vesting)

Answer 2

Vesting occurs when the beneficiary: (i) manifests assent to the promise in a manner invited or requested by the parties; (ii) brings suit to enforce the promise; or (iii) materially changes position in justifiable reliance on the promise.

Merely being informed does not cause vesting.

Question 3

extrinsic evidence

Answer 3

although extrinsic evidence is inadmissible to supplement or contradict the express terms of a completely integrated agreement, such evidence is admissible to explain the terms of an agreement