Management and Organizational Studies 2275A/B Study Guide - Quiz Guide: Britney Spears, Estoppel, Parol Evidence Rule

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Which of the following is an exception to the general rule that every contract requires an exchange of valuable consideration: Dick and tom have a lease contract which requires tom to pay ,000 of rent each month to. Dick on the 1st day of each month. The lease says that if tom is late with a payment, he can be evicted. However, dick told tom that it is okay for him to pay a few days late and he will not be evicted. The next month, tom paid his rent two days late, and dick told him to leave the premises. Tom left voluntarily, but now he is suing dick for damages. A. tom will be successful because of promissory estoppel. B. tom will be successful because of the parol evidence rule. C. tom will be successful because of the principles of fairness. The court has decided to enforce several contractual terms which were not actually written in the contract.