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Promissory estoppel is kind of like having a affirmative defense to lack of a contract●Ex: you're working at Dell but decide to interview at Apple, during interview you say your working at Dell and that you’ll give a 2 weeks notice and quit if you're offered a job at Apple. You show up at your first day at Apple and they fire youoIs Apple allowed to do this? Yes they are—don’t even need a reasonoThis is called: at will employmentoTexas is an at will employment state—you can be fired at anytime, for any reason from your job. Also, as an employee, youcan quit at any timeoBecause you don’t have an employment contract, there is no true contract in this situation▪This is where promissory estoppel comes in—says Apple can't do this●This would be different if Apple didn’t know you gave something up to get this new jobPublicly held corporation: (25)●A company that has many shareholders ●They are mostly the big corporations that get exposure in the media and are listed for trade on a national stock exchange (Google, Microsoft, GM, etc.).Quasi Contract: (10 & 25)●Exists only in those exceptional circumstances where a court feels compelled to impose upon one person regardless of whether s/he had any intention of making a contract.●A contract in law ●Something that the law artificially creates to prevent unjust enrichment●Limits oYou can’t go around just offering goods and then bill them later, especially if it's usually a free good or service.oYou can’t if the other person doesn’t know that they were unjustly enriched ▪You get bumped to first class because it was oversold and then you get a bill for the seat later ●Does not exist. To prevent unjust enrichment. Has limits. One being if a person is unaware of contract benefits.
Reasonable person standard: (11)●if you don’t have another place to go when trying to answer a question, come back to the reasonable person and try to answer the question from that perspectiveRejection: (11)●rejection comes from offeree who the offer was supposed to go to. ●A counteroffer/bargaining is a rejection of the first offer.●If offered says I like 9 out of 10 of these things, there will be continued offering and generation of new offering. From a legal standpoint you can have 10 diff offers. Requirements Contract: (12)●A contract to buy all that you need Restrictive Covenant: (13)●Most common type on non-compete clause Revocation: (11)●if you withdraw an offer you must communicate it. If you decide that you want to send an email from your phone and tell someone that offer is not good anymore and message is not sent, and then in the morning you find that your contract is accepted. There was failure to communicateS Corporation: (25)●are not taxed separately from their owners●do not pay federal income taxes●instead, their shareholders are required to pay taxes based upon the corporation’s income (or losses)Scenes a Faire: (9)●standard techniques necessary to convey particular ideas