Unformatted text preview: because they didn’t pay the premium. Issue: Whether the auto lender could assert a promissory estopple to the owners to pay the auto loan in full because of an “unrecompensated” promises they made. Rule: A contract is when there is mutural agreement, with a offer, an acceptance, and consideration. Rational: There was mutual assent, an offer, the lender stated that they would add the premium to the loan if the owners didn’t pay for the insurance. The owner called to accept. And the consideration is, repayment + interest. Holding: There was a contract already, so there was no need for promissory estoppels. Synthesis: Dissent/Concurrences:...
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- Fall '11
- Debt, insurance premium, Auto Loan