Examlex
How does the fallacy of appeal to authority involve credibility?
Sufficient Consideration
A legal concept indicating that the value exchanged in a contract is recognized as adequate, making the contract binding and enforceable.
Illusory Promise
A situation in which a party appears to commit to something but really has not committed to anything. It is not a promise and thus not consideration.
Promissory Estoppel
A legal principle that prohibits a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.
Detrimental Reliance
Occurs when a party takes action based on the promise of another, suffering harm as a result when the promising party fails to fulfill their commitment.
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