What are the main sources of American contract law? 2.What is promissory estoppel and why is it perm

Apr 8th, 2015
Studypool Tutor
Price: $5 USD

Tutor description

What are the main sources of American contract law? What is promissory estoppel and why is it permitted under a contract theory?

Word Count: 329
Showing Page: 1/3
BUSN150-DB3NameClassDateProfessorBUSN150-DB3 American contract law emerged from English common law similar to criminal law statutes. Contract laws in America are defined as a "promise or set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty." In layman's terms contract law is the enforcement of legal binding promises between one or more party and if the promise (contract) is breached the offending part can face civil litigation. In order for a contract to be legally binding there must be adequate consideration for both parties. Adequate consideration refers to the contact providing equal benefit to both parties. There are many different sources for contract law beginning with common law in the British style followed by Restatement by the American Law Institute which was wri

Review from student

Studypool Student
" Top quality work from this guy! I'll be back! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 tutors are online

Other Documents

04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015
04/08/2015

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors