LAWS 1000 Lecture 5: 03.promissoryestoppel

• School: Carleton University
• Department: Law
• Course: LAWS 1000
• Professor: Betina Kuzmarov

Document Summary

Before the expiry of this nine month option period , the optionee realized that it couldn"t fulfill its obligations to expend the required minimum amount by the expiry date. The optionee notified the optionor of its problem prior to the expiry of the option period and the optionor indicated that the option period would be extended. However, no written record of this extension was made, nor did the optionor receive anything from the optionee in return for the extension. The optionee would have hired extra people to complete the work by the necessary deadline, but didn"t believe this was necessary as a result of the assurances made by the land owner. The optionee then proceeded to perform the services and to finally expend the specified minimum amount during the extension period.