Does The Doctrine Of Promissory Estoppel Applies To Fran And Octavia?
LST2BSL Introduction to Business Law and Ethics
Name of Student:
Name of the Class
Name of Professor
La Trope University School of Law
Date:
Business Law and Ethics
Business law is very critical in the running and management of any business. It comprises all the laws that bind the operations of the business, formation of business and it makes up all the laws that govern how to run a business. Business law and ethics go hand in hand. It is through the business law that ethics in business are initiated and developed. Business law is also fundamental to solving problems that might arise in business. It provides the criterion and the procedure to be followed when solving the business-related cases and feuds that arises.
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The doctrine of promissory estoppel is applicable in the business law. The doctrine helps one to recover loses that has been made through a false promise that someone gives and without further fulfilling it. In this case, the law provides for the payment or compensation for the loss incurred or the damage incurred. This is inclusive of the time wasted and mental torture that one undergoes after he has been promised something but failed in the long run. The injured party or the victim of the unfulfilled promise can sue the person who has promised him/her but does not deliver the expected results. The case of Fran and Octavia is a clear example that can explain the doctrine of promissory estoppel. In this scenario, Fran approaches Octavia to give him a room to conduct her business of storing her goods. She promises Octavia that indeed she will consider lending the house for her business deals. The warehouse had no functional extractor fan in which Fran requested Octavia to put in place. In the case, Octavia asked Fran to promise him that she will take the house before hiring the electrician to install the fan. He wanted to be sure before proceeding with the plan of installation, in which Fran gladly promised that he will take the warehouse. Octavia went ahead to hire the electrician as part of the …show more content…
Is Dante bound by contract with Fran? Fran and Dante enter an agreement that was signed and stamped. In the agreement, Dante is hired as an apprentice chocolatier. However, the agreement prohibited Dante from working with the competitors of Fran as stipulated in the restraint of trade clause that was supposed to last for one year after the deal was sealed. Dante, on the other hand, did not respect the terms of the contract as six months later he parted ways with Fran. He did not adhere to the terms of the business clause as he works with the competitors of Fran before the time that they had agreed expired. In the case above, it is evident that Dante is bound by the contract that he had entered with Fran. In the trade clause that was signed between the two partners, Dante had no right whatsoever to go against the terms of the contract that was signed. Fran has a right to enforce the restraint of the trade clause she had entered with Dante. The restraint of trade clause works best when the agreement that was met between two parties fails to mature or work out due to the ignorance of one party to adhere to the terms of the
Name of Student:
Name of the Class
Name of Professor
La Trope University School of Law
Date:
Business Law and Ethics
Business law is very critical in the running and management of any business. It comprises all the laws that bind the operations of the business, formation of business and it makes up all the laws that govern how to run a business. Business law and ethics go hand in hand. It is through the business law that ethics in business are initiated and developed. Business law is also fundamental to solving problems that might arise in business. It provides the criterion and the procedure to be followed when solving the business-related cases and feuds that arises.
Question …show more content…
The doctrine of promissory estoppel is applicable in the business law. The doctrine helps one to recover loses that has been made through a false promise that someone gives and without further fulfilling it. In this case, the law provides for the payment or compensation for the loss incurred or the damage incurred. This is inclusive of the time wasted and mental torture that one undergoes after he has been promised something but failed in the long run. The injured party or the victim of the unfulfilled promise can sue the person who has promised him/her but does not deliver the expected results. The case of Fran and Octavia is a clear example that can explain the doctrine of promissory estoppel. In this scenario, Fran approaches Octavia to give him a room to conduct her business of storing her goods. She promises Octavia that indeed she will consider lending the house for her business deals. The warehouse had no functional extractor fan in which Fran requested Octavia to put in place. In the case, Octavia asked Fran to promise him that she will take the house before hiring the electrician to install the fan. He wanted to be sure before proceeding with the plan of installation, in which Fran gladly promised that he will take the warehouse. Octavia went ahead to hire the electrician as part of the …show more content…
Is Dante bound by contract with Fran? Fran and Dante enter an agreement that was signed and stamped. In the agreement, Dante is hired as an apprentice chocolatier. However, the agreement prohibited Dante from working with the competitors of Fran as stipulated in the restraint of trade clause that was supposed to last for one year after the deal was sealed. Dante, on the other hand, did not respect the terms of the contract as six months later he parted ways with Fran. He did not adhere to the terms of the business clause as he works with the competitors of Fran before the time that they had agreed expired. In the case above, it is evident that Dante is bound by the contract that he had entered with Fran. In the trade clause that was signed between the two partners, Dante had no right whatsoever to go against the terms of the contract that was signed. Fran has a right to enforce the restraint of the trade clause she had entered with Dante. The restraint of trade clause works best when the agreement that was met between two parties fails to mature or work out due to the ignorance of one party to adhere to the terms of the