Question 1
An offer represents an expression indicating the inclination to make a contract posing certain terms in which the offer is expected to accept making it binding. Acceptance involves an oral or behavior which indicates the parties are acting in acceptance of the offer.
Question 2
An offer becomes binding when a proposal is made which includes the delivery date of the offer and its price with the terms of payment. The item or service should also be described.
Question 3
Offer can be either conditional where some changes are made or express acceptance. It can also be implied which is demonstrated by actions of the parties.
Question 4
This is the value attached to a contract made from one party to either money, services or other products.
Question 5
Consideration requires some elements which include bargained exchange which is a returned promise and a legal detriment which involves a new performance which was not in the obligation of the party (Clarkson, Miller, Cross & Clarkson, 2012).
Question 6
A consideration can be exceptional where in cases of promissory estoppel, incapacity of one party making it voidable and occurrence of a mistake which makes the initial promise voidable. Contracts involving sale of goods are also exceptional.
Question 7
The elements of promissory estoppel include a clear and definite promise, the promisor relied on the promise justifiably, this reliance was substantial and imposing the promise is justifiable.
The case indicates an implied offer which was accepted by Emily through her actions making it legal. The consideration in this case is the material support offered to Emily by John, which indicates the existence of an implied contract. This makes her legally accessible to this money thus she can argue for promissory estoppel based on these facts (Clarkson, Miller, Cross & Clarkson, 2012). She can stop the actions of Clement based on the promises and considerations made by John.
References
Clarkson, K. W., Miller, R. L. R., Cross, F. B., & Clarkson, K. W. (2012). Business law: Text and cases : legal, ethical, global, and corporate environment. Mason, OH: South-Western Cengage Learning.
