Question 1. Question :
Define
promissory estoppel and explain how this may serve as an exception to the
normal consideration requirement imposed on each of the parties. Give an
example of promissory estoppel.
Question 2. Question :
How may
mental incompetence affect whether each of the parties to a contract are bound?
Question 3. Question :
What is the
legal theory of consideration in contracts? Is the issue of the adequacy of
consideration ever an issue in contract law? Must both parties provide
consideration for a contract to be formed?
Question 4. Question :
What is the
legal notion of the disaffirmance of a contract by a minor and how does this
work?
Question 5. Question :
If an adult
chooses to contract with a minor, are there any actions that the adult can
insist upon to make the contract more binding?
Question 6. Question :
Is a partial
payment of a debt on a prior contract considered consideration? What
constitutes invalid or insufficient consideration?
Question 7. Question :
May a minor
contract with an adult? If so, what type of contract will be formed and how
will it impact each of the parties? Do any exceptions exist?
