Asked by Trinity Honaker on May 06, 2024
Verified
Assuming he has the right,Tom's promise ________,also called ________,is ________ when it is supported by ________.
A) of forbearance;promissory estoppel;enforceable;consideration
B) to donate money;charitable pledge;enforceable;firm offer
C) not to sue;forbearance;enforceable;consideration
D) not to sue;consideration;enforceable;legal detriment
Forbearance
The act of refraining from exercising a legal right, especially by a creditor who gives the debtor more time to pay an outstanding debt.
Promissory Estoppel
A legal principle that prevents a promisor from reneging on a promise when the promisee has relied on that promise to their detriment.
Consideration
In contract law, consideration refers to something of value exchanged between parties, which is necessary for a contract to be legally binding.
- Acquire knowledge on the notion and different forms of legally sufficient consideration in the context of contract law.
Verified Answer
ZK
Zybrea KnightMay 07, 2024
Final Answer :
C
Explanation :
Tom's promise of not to sue is an example of forbearance. This type of promise is called promissory estoppel, which is enforceable when it is supported by consideration. In this case, the consideration is the act of forbearing from suing. Thus, option C is the most appropriate answer. Option A is incorrect because the forbearance promise is not necessarily associated with promissory estoppel. Option B is incorrect because the promise to donate money is not an example of forbearance, and a charitable pledge is not always enforceable. Option D is incorrect because legal detriment is not the consideration for the promise of not to sue.
Learning Objectives
- Acquire knowledge on the notion and different forms of legally sufficient consideration in the context of contract law.