When is promissory estoppel in effect?Multiple choice question.When a party to the contract knew, or had reason to know, that reliance would be detrimental to the performance of the contractWhen the party's reliance is to his or her own detrimentWhen the party's reliance is detrimental to a third partyWhen the party's reliance was not foreseeable by the unaffected party

Promissory estoppel requires what major element to exist?Multiple choice question.Both parties deny the existence of a contractDetrimental reliance by the injured partyAn agent who conducts actions against the interest of a principalA contract that is profitable to all parties

Select all that applyWhat are the elements of the promissory estoppel exception to the statute of frauds? (Check all that apply.)Multiple select question.Both parties can no longer profit from the contract.The detrimental reliance of the injured party could have been foreseen by the other party.One party to the contract must be a minor.One party detrimentally relied on an oral promise.

In an agency by estoppel, the important factor is whether the principal acts to: Blank______.Multiple choice question.discourage the impression that an agency relationship exists between the partiescreate the impression that the agent has the authority to act on behalf of the principalcreate the impression that an incidental beneficiary will receive a direct contractual benefit via the agentarticulate that there is an express agency agreement

How can the privity rule be circumvented?Question 4Select one or more:a) Estoppel may be asserted by the person seeking to take the benefit of the contract.b) By the parties to a contract conferring a benefit on a non-party.c) The person seeking to take the benefit of the contract may be able to claim misleading or deceptive conduct.d) There may be an entitlement to claim damages in tort by the person seeking to benefit under the contract.

______ conditions occur when each party's performance is conditioned on the performance of the other.Multiple choice question.SubsequentConcurrentCompensatoryPrecedent