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Contracts, Fall 2008

Contracts, Fall 2008. Class 4. Promissory Estoppel. Reliance in lieu of bargained-for exchange. Rest. 2 nd §90(1): action or forbearance induced by promise that promisor reasonably should expect injustice can be avoided only by enforcing the promise

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Contracts, Fall 2008

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  1. Contracts, Fall 2008 Class 4

  2. Promissory Estoppel • Reliance in lieu of bargained-for exchange. Rest. 2nd §90(1): • action or forbearance • induced by promise • that promisor reasonably should expect • injustice can be avoided only by enforcing the promise • remedy is limited ‘as justice requires’

  3. Promissory Estoppel and Charitable Subscriptions • Restatement §90(2): A charitable subscription…is binding under subsection (1) without proof that the promise induced action or forbearance. • Action or forbearance=“reliance” • Restatement §90(2): not adopted in many states; usually, do need reliance (or consideration)

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