Examlex
Jones has suffered a severe stroke that has left him unable to walk, speak, or dress and feed himself. He needs nursing care for several hours a day, but his wife has died and his adult son lives 1,000 miles away. Which of the following options would most likely be the type of living arrangement that would best serve Mr. Jones's needs?
Consideration
The value (usually money, service, or goods) exchanged between parties in a contract that compels them to fulfill their mutual obligations.
Preexisting Duty
An obligation that a party is already bound to by law or by some other agreement. The party may not use this as consideration in a new contract.
Promissory Estoppel
A judicial principle that stops one from retracting a pledge given to another if the latter has justifiably depended on the promise to their disadvantage.
Disputed Amounts
Refers to the sums of money under contention between parties in transactions or contracts, often leading to negotiation or legal actions.
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