Which of the following is true regarding Wally getting a loan and putting a new roof on the house?
A) Wally should have known better, and his actions would be of no use to him in attempting to enforce the contract.
B) The judge would consider his actions under the UCC as exceptions to the parol evidence rule.
C) His actions would likely amount to promissory estoppel, which establishes an exception to the statute of frauds.
D) His actions would be considered as admissions.
E) His actions would be considered only because Wilma told the judge that she had orally agreed to the contract.

Question

Quizplus · Accepted Answer

Promissory estoppel is the legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract. For promissory estoppel to be in effect, the party's reliance must be to her own detriment. Furthermore, the reliance must have been reasonably foreseeable; that is, the party who did not rely on the contract should have known the other party was going to rely on it.

Which of the Following Is True Regarding Wally Getting a Loan