LAW 122 Lecture 11: Lecture 11.docx

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Theresa Miedema

Document Summary

Promises enforceable without consideration: promises made under seal, a legal seal. For a long time, they could only apply to statements of fact. You can"t retract your statement after allowing a person to reply on that. If this applied to promises we would pretty much be saying that you cannot retract promises. Which would mean that promises were legally binding. This starts to sound like you do not need consideration . Four requirements for promissory estoppel: there must already be a contract. (the parties must be in an existing contractual relationship, once the plaintiff agrees, they agree to modify the terms of the contract. In order to make it permanent, you would need a new contract with. Contractual assignment: a process for transferring contractual rights, you cant transfer contractual burdens, assignor: person who assigns, assignee: person who receives the assignment, debtor.