Discuss Whether the Agreements Reached in Each of the Following

question 1

Essay

Discuss whether the agreements reached in each of the following situations is enforceable.
a.Mark is the owner of A-1 Construction.He agrees to construct an addition to a client's home for a total contract price of $45,000.When the addition is completed,the homeowner complains about the quality of the workmanship and refuses to pay the full contract price.Mark talks to the homeowner and Mark agrees to accept a payment of $43,000 rather than the $45,000 in the original contract.
b.Mark is the owner of A-1 Construction.He agrees to construct an addition to a client's home for a total contract price of $45,000.When the addition is completed,the homeowner says he is short of money and can only pay Mark $43,000 even though he is satisfied with the work.Mark agrees to accept the payment.

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Definitions:

Promissory Estoppel

A legal principle that prevents a party from backing out of a promise which led the other party to take action or abstain from it, based on the promise.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party making it to any action or performance, rendering it unenforceable as a contract.

Release

A legal document or agreement resulting in one party forfeiting the right to make claims against another party in exchange for a settlement or relief.

Unforeseeably Difficult

Situations or tasks that could not have been predicted to be as challenging or complex as they are found to be.