Contract Law Problem Question Essay Example | Topics and Well Written Essays - 1750 words

Contract Law Problem Question - Essay ExampleIn this respect, clients can liquidate in full or incur partial requital processes to obtain the said(prenominal) products1. From this perspective, the willing buyer-seller technique relies on participants ability to come to an reason on which manner to apprehend a decision.When a debtor makes partial payment to a creditor, who has the right to end the covenant? In an event that both decide to settle before completion of the contract, who takes responsibility? The belief that the uprightness binds a promisor to his promises raises many questions on the boundary of such aptitudes. Agreements are very important nevertheless, the briny question remains how to address disputes in contracts2. According to promissory estoppel, any creditor who formally or colloquially notifies a debtor of forgiving a commitment has no right to claim the same. In the showcase of Orlando and Kate, the latter chose a system of payment for buying a car wort h $2500 by compensating in double instalments of $1250. Certainly, this pegged to her income that could not allow her pay a lump some for the same product. The mutual agreement between the two however, did not materialize after Kate lost her job hence failing to pay for the second instalment. Worried about making losses, Orlando settled on an special $625 and a bottle of fuddle as a token of appreciation from Kate. Notably, this marked the end of their agreement of the sale and hence bourn of the contract. Nonetheless, Orlando after hearing of Kates luck in finding another job intends to seek for the additional fee. Notably, Kate has no obligation to pay the remaining amount considering that Orlando agreed to new terms. The Law of promissory estoppel guards Kate against Orlandos idea to demand more money. On the other hand, the doctrine of part payment debt assumes that partial payment of a debt does not hinder the creditor from fully enforcing the intention to settle. From this