Examlex
Which of the following statements is true?
Legal Detriment
In contract law, doing (or promising to do) something that one has a legal right not to do, giving up (or promising to give up) something that one has a legal right to keep, or refraining from doing (or promising not to do) something that one has a legal right to do.
Hamer v. Sidway
A landmark 1891 New York Court of Appeals case that established the principle of forbearance (refraining from an action) as valuable consideration in contract law.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.
Consideration
In contract law, something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
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