Explain the Difference Between Absolute and Relative PPP

question 115

Essay

Explain the difference between absolute and relative PPP.

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Definitions:

Promissory Estoppel

A legal principle that prevents a party from retracting a promise which the other party has reasonably relied upon to their detriment.

Oral Contracts

Agreements between parties that are made verbally and not recorded in written form, yet are still legally binding under certain conditions.

UCC

The Uniform Commercial Code is an extensive collection of statutes that regulate every aspect of commercial dealings across the United States.

Proper Electronic Form

A format for electronic documents that meets legally recognized standards and requirements for validity and enforceability.