Equity
What is promissory estoppel?
A promise which the promisor should reasonably expect to induce action or forbearance on the part of the promisee or a third person and which does induce such action or forbearance is binding if injustice can be avoided only by enforcement of the promise
What is an incidental beneficiary?
Someone who benefits from the promise but wasn’t specifically intended to receive the benefit by the parties.
What is an assignment of a right?
An assignment of a right happens when the original holder of the right (the assignor) clearly shows they want to transfer it to someone else. This transfer ends the assignor's right to receive the promised performance, and the new person (the assignee) now has the right to that performance instead.
If an obligor delegates a task, is the obligor still responsible for that duty?
Yes, unless the obligee agrees to release them
What can one party receive when the other party fails to perform their obligations or backs out of a contract entirely?
The breached party can get back any benefits they provided as part of their partial performance or reliance on the agreement.