Business Law: Alternative Theories for Enforcing Contracts

Business Law: Alternative Theories for Enforcing Contracts

Assessment

Interactive Video

Social Studies

10th - 12th Grade

Hard

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The video tutorial explores two alternative theories for enforcing promises when no valid contract exists: quasi-contract and promissory estoppel. Quasi-contract applies when one party is unjustly enriched by another's actions without fair compensation, as illustrated by a mistaken delivery of a diamond ring. Promissory estoppel involves enforcing a promise when one party relies on it to their detriment, exemplified by a broken promise from an uncle to support an aspiring artist. Both theories aim to prevent injustice in the absence of a formal contract.

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3 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

In what situations might one party be unjustly enriched according to the text?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the two conditions that must be met for a promise to be enforced under promissory estoppel?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the text illustrate the concept of promissory estoppel with the example of Uncle Vinny?

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