Re: Basic legal things everyone should know
[ QUOTE ]
promissory estoppel protects someone who detrimentally relies on a promise.
[/ QUOTE ]
[ QUOTE ]
[ QUOTE ]
If I say I will give you half if you buy my dinner tonight, then there was bargain and consideration.
[/ QUOTE ]
a court would likely not enforce this if the disparity between items exchanged is this great. here, this seems to be a "token" consideration (giving tens of thousands of dollars in equity for a dinner).
[/ QUOTE ]
This is wrong; consideration does not fail because of a disparity between items exchanged. Nominal consideration (one dollar, a peppercorn, a hawk's feather, etc.) has been upheld time and time again.
|