The doctrine of promissory estoppel is also known as the doctrine of beneficial reliance.
Generally, contracts are discharged by the performance of the terms of the contract.
The business judgment rule is applied by the courts as a presumption that must be
overcome by the person challenging a director’s actions.
Roxy is employed as a manager at “com.com,” an Internet-based company attempting
to compete successfully in the highly competitive software development industry. Roxy
is concerned that one of her employees, Randy, is not performing at an acceptable level.
While Roxy has noticed that Randy spends considerable time using the computer at his
workstation, his productivity is lacking. Roxy suspects Randy is using the company’s
e-mail system for personal use instead of working on company business. Is Roxy
permitted to monitor Randy’s email?
To collect on property insurance, an insurable interest in the property must exist at the
time that the loss is suffered.
Fran had a very rare, and therefore expensive, automobile that she wished to sell. Fran
worried that if the first attempt at selling the auto failed, the value of the auto might
come into question. To prevent any potential loss of profit if the auto needed to be
resold, Fran created a sales contract that provided for an estimation of damages should
the contract later be breached by the potential buyer. A potential buyer was found, and
the contract was signed. Later, because of a lack of sufficient financing, the buyer
breached the sales contract. Fran requested the estimated damages provided for in the
contract. The buyer refused, calling the clause unconscionable and excessive. Can Fran
recover?
For a change to constitute an alteration, the person making the change must be a party
to the instrument.