Restatements

Question 1

Promise

Answer 1

1) Manifestation of intention to act or refrain from acting in a specified way
2) The person manifesting the intention is the promisor
3) The person to whom the manifestation is addressed is the promisee

Question 2

Requirement of Exchange

Answer 2

1) Performance or a return promise must be bargain for
2) Promise in exchange for a promise
3) Promise in exchange for a forbearance

Question 3

Settlement of Claims

Answer 3

1) Forbearance to assert or the surrender of a claim or defense which proves to be valid is NOT consideration, UNLESS a) the claim or defense is in fact doubtful b/c of uncertainty as tot he facts of the law OR b) forbearing or surrendering party beliefs that the claim or defense maybe fairly determined to be valid(HAMER)

Question 4

Mutuality of Obligation

Answer 4

1) A gain, advantage, or benefit to the promisor or a loss, disadvantage, or detriment to the promise; OR
2) equal in value(not adequacy)
3) agreement

Question 5

Duty of good faith and fair dealing

Answer 5

Every contract imposes upon each duty a good faith and fair dealing in its performance and its enforcement

Question 6

Donative promises/ GIFT

Answer 6

Unenforceable promise,

Question 7

Promissory Estoppel

Answer 7

1) Promise
2) Foreseeably induce action
3) Reliance
4) injustice

Question 8

Past Consideration/ Moral obligation

Answer 8

1) promise
2) Recognized of a past conferred benefit
3) Prevent injustice

Question 9

Quasi - Contract

Answer 9

1) Benefit
2) Appreciated
3) Benefit accepted and retain in that it would be inequitable to retain benefit w/o payment
4) Injustice