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Old 10-03-2007, 12:20 PM
DrewDevil DrewDevil is offline
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Join Date: Mar 2006
Posts: 5,715
Default Re: Basic legal things everyone should know

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promissory estoppel protects someone who detrimentally relies on a promise.

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If I say I will give you half if you buy my dinner tonight, then there was bargain and consideration.

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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).

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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.
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