Restatements

Question 1

Restatement 2d contracts §86

Answer 1

Promise For Benefit Received:

(1) A promise made in recognition of a benefit previously received by the promisor from the promisee is binding to the extent necessary to prevent injustice.
(2) A promise is not binding under Subsection (1) if:
(a) the promisee conferred the benefit as a gift or for other the promisor wasn’t unjustly enriched; or
(b) to the extent that its value is disproportionate to the benefit

The Restatement does not reference “moral obligation” or “past consideration”; it is strictly restitutionary compensation for benefit previously received

Question 2

§133 (the WHAT) and §132 (the HOW) to Satisfy the Statute of an Enforceable Memorandum

Answer 2

Restatement 2d of Contracts §133: (WHAT)

• A memorandum need not have been made as a memorandum of a contract
• What can it be? [an oral agreement; exchange of promises; promise in exchange for performance; conduct]

Restatement 2d of Contracts §132: (HOW)

• The memoranda may consist of several writings if:
  1. One of the writings is signed by the party against whom enforcement is sought; AND
  2. The writings in the circumstances clearly indicate that they relate to the same transaction.

Question 3

Signed v. Signature

Answer 3

Restatement 2d K §131-137: signed by (or on behalf of) the party against whom enforcement is sought (WHO).

§ 134 - Signature: The signature to a memorandum may be any symbol made or adopted with an intentional, actual or apparent, to authenticate the writing as that of the signer. (the WHAT)
- Signature is almost anything

§ 135 - Who Must Sign: Where a memorandum of a K w/i the Statute is signed by fewer than all parties to the K and the Statute is not otherwise satisfied, the K is enforceable against the signers but not against the others. (the WHO)

UETA and E-Sign Act allows for electronic signatures as well.

Question 4

Restatement 2dK90(1)

Answer 4

(1) A promise that the Promisor reasonably should expect to induce action or forbearance by the Promisee, which actually induces such action or forbearance, is binding if injustice can only be avoided by enforcing the promise. Damages may be limited as justice requires.

Question 5

Restatement 2d Contracts §90(2)

Answer 5

Charitable donations or marriage settlement is binding under Subsection (1) without proof that the promise induced action or forbearance.

Question 6

Restatement 2dK87(2)

Answer 6

(2) An offer that the Offeror reasonably expects to induce action or forbearance of a substantial character by the offeree before acceptance may be enforced as a binding option contract to the extent necessary to prevent injustice.

• The offer may still be enforced despite missing both:
  
  1. A promise of irrevocability; and
  2. consideration in support of that
     promise.
• This protects the offeree’s reasonable reliance that the offer would remain open, even when no such express promise has been made and allows promise to enforce it even though unsupported by consideration.