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Another example a and b enter into a written

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Another example: A and B enter into a written agreement under the terms of which A promisesto employ B as his foreman for one year at a salary of employ B as his foreman for one year at asalary of $22,000 and B promises to work in that capacity for the specified time. The lastparagraph of the agreement provides that “A reserves the right to cancel this contract at anytime.” Because A has thus not absolutely bound himself to employ B for the year, A has incurredno detriment.Requirement and Output ContractsIf the parties, by the language of the contract, indicate that the quantity of goods is to bedependent upon the requirements of the buyers business, then the contract is not void for wantof mutuality and both parties are bound by it, in other words, such contracts are to bedistinguished from illusory contracts, in which the quantity is solely dependent upon the buyer’swhim or will.Same analysis in “Output Contracts”: The implied promise of the seller not to sell them toanyone other than the buyer constitutes a detriment to the seller and the promise of the buyerto purchase the output, in the event there is any, constitutes a corresponding detriment to thebuyer.Must have good faith for both.Promissory EstoppelThe basic idea underlying this doctrine is that if the promisor makes a promise undercircumstances in which he or she should realize that the promises is almost certainly going torely on the promise in a particular way, and if the promsee does so rely, thereby causing asubstantial change in his or her position, the promisor is bound by the promise even thoughconsideration is lacking on the part of the promise.Many courts invoke promissory estoppel in a variety of situations where they believe thatcontractual formalities are unnecessarily blocking attainment of the reasonable intentions andexpectations of the parties.
Think of this as an issue of fairnessEtc. Charitable donations do not fail for want of consideration. What about engagement rings?Ch. 13: “Illegality”Courts don’t generally enforce illegal contracts. Contract is generally illegal because:It is contrary to statute’s or public policy are thus void, meaning neither party is boundor cannot recover consideration.Will also not allow Quasi-Recovery where illegal action was involved.Wagering AgreementsGambling contracts-Making bets and operating games of chance are generally prohibited.Bet and LotteriesCourts tend to rule that a scheme that doesn’t require a purchase of goods is not a lotterybecause consideration is lacking. “No purchase necessary”-Friendly bets are frequently exempt-Many state sanctioned lotteries-Many contracts are based on risk or chance that are not wagers or gambling, includinginsurance policy.Licensing StatutesRequiring that persons who engage in certain professions be licensed, i.e. lawyers.-If regulatory statute, purpose is general protection of the public against the unqualified,thus contract is illegal and recovery is denied.Usury

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