TLAW 101 Business Law Assignment: Contract and Estoppel Analysis
VerifiedAdded on 2023/06/10
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Homework Assignment
AI Summary
This business law assignment analyzes two key legal issues. Question 1 examines contract formation, specifically whether Frank entered into a contract with any of the parties. The analysis considers the elements of a contract, including offer, acceptance, capacity, intention, and consideration, and applies these to scenarios involving Bill, Mark, John, and Tom. It concludes that Frank's sign was an invitation to treat and that he did not form a contract with any party. Question 2 focuses on promissory estoppel, determining if Graphic Advertising Pty Ltd is liable to Renee for a promised salary increase and back pay. The analysis reviews the requirements for promissory estoppel, including pre-existing contract modification, a clear promise, a change of position, and inequitable conduct. It concludes that Renee can rely on promissory estoppel to hold the company liable for the promised increase.
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