Relationship Interests Exist When the Parties Derive Substantive Benefits from the Relationship

question 53

Multiple Choice

relationship interests exist when the parties derive substantive benefits from the relationship and do not want to endanger future benefits by souring it.

• A) Intrinsic
• B) Substantive
• C) Instrumental
• D) Process

---

Definitions:

Entire Agreement

A clause in a contract that declares the contract to be the complete and final agreement between the parties, superseding all prior negotiations, promises, or representations.

Privity of Contract

The principle that a contract directly affects and grants enforceable rights only to the parties involved in the contract agreement.

Promissory Estoppel

A legal principle that prevents a party from going back on a promise, even if it was made without formal consideration, when someone else has reasonably relied on that promise.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the parties involved to be legally enforceable.