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Detrimental Reliance
A legal principle where a party suffers a loss due to their reliance on a promise or agreement that is not fulfilled by the other party.
Unenforceable Contract
A contract that is not legally binding and cannot be enforced by law due to certain deficiencies or lack of key requirements.
Adequacy of Consideration
A legal principle that examines whether the value exchanged in a contract is fair and reasonable to all parties involved.
Contract Formation
The process by which parties agree on the terms of a contract, leading to a binding agreement; typically involves offer, acceptance, consideration, and mutual intent.
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