Formation 7

Question 1

promissory estoppel (4 elements)

Answer 1

1. specific promise of future gratuitous action
2. promisee’s action was reasonably foreseeable to promisor
3. reliance, and not other factors, induced the promise
4. injustice without enforcement

Question 2

promissory estoppel: what to consider when whether there would be injustice without enforcement of promise (4)

Answer 2

1. willfulness of breach
2. relative pt positions
3. detriment
4. alternatives

Question 3

quasi-K alternative names

Answer 3

restitution, quantum meruit, implied-in-law K

Question 4

quasi-K

Answer 4

where P has conferred a benefit upon D under circumstances where no enforceable K results, P may be entitled to recover the value of the benefit conferred

Question 5

implied best efforts

Answer 5

where a party is to be the exclusive distributor, courts will imply a promise to use best efforts to sell the product

Question 6

are implied best efforts valid consideration?

Answer 6

yes (under both CL and UCC)