[Solved] A Question of Ethics-Promissory Estoppel

Question 15
Essay

A Question of Ethics-Promissory Estoppel. Claudia Aceves borrowed $845,000 from U.S. Bank to buy a home. Less than two years into the loan, she could no longer afford the monthly payments. The bank notified her that it planned to foreclose on her home. (Foreclosure is a process that allows a lender to repossess and sell the property that secures a loan-see Chapter 26.) The bank offered to modify Aceves's mortgage if she would forgo bankruptcy. In reliance on the bank's promise, she agreed. Once she withdrew the filing, however, the bank foreclosed and began eviction proceedings. Aceves filed a suit against the bank for promissory estoppel. 1. Could Aceves succeed in her claim of promissory estoppel Why or why not 2. Did Aceves or U.S. Bank behave unethically Discuss.

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Business

Explore our library and get Business Law Homework Help with various study sets and a huge amount of quizzes and questions

3.5K

Study sets

66.5K

Quizzes

5.9M

Questions

Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans