#1- Compare valid, void, voidable, and unenforceable contracts.
A valid contract meets all the requirements for a legal contract, whereas the other three types of
contracts all have the ability to not be legally valid. An unenforceable contract has the
opportunity to get defended against legally, a voidable contract has at least one group who has
the option to void, and a void contract is effective legally.
#2- What are the elements that must be shown in order to apply the doctrine of promissory
estoppel? Provide an example to illustrate them.
In order to apply the doctrine of promissory estoppel, the promisor must make a promise,
promiser has to reasonably expect the promisee to reply on the promise, the promisee engages
in an action of a definite and substantial nature, and the acknowledgement that an injustice
would be caused if the promise were not enforced are the elements that must be shown. For
example, in a recent case of Loeffler v. Bernier, the “defendant was foreclosed from denying the
plaintiff had a right of way” which was acknowledged in the deed, so the denial of right away
was estopped.
#3- What is meant by "insane but not adjudged insane?" What are its consequences?
To be “insane but not adjudged insane” requires not having been declared insane by an
administrative agency or court. Its consequences include making a contract generally voidable.