Silicon Valley Business School

Contracts: Beyond Contractual Duties
Free Extracts from the Contracts Course
Below you are free to explore extracts of the learning materials included in this course. If you're interested in educating yourself on these topics, we recommend that you review all these materials. If you're looking for a credential, please take a look at the certificate version of this course which will test your understanding of the materials and track your progress through the course until you have completed it and earned your certificate.

  • Video ~ Promissory Estoppel

etrimental reliance is an important component of many causes of action relating to breach of contract, including fraud, misrepresentation, negligent misrepresentation, violation of the Unfair Practices Act (or UPA), and enforcing an oral contract under the theory of promissory estoppel.

A promise must be supported by consideration to form a binding contract, but there are scenarios in which the Court will enforce a promise where no contract was formed. Usually these are situations of detrimental reliance, where the person relied on the promise and suffered a detriment as a result.

When it comes to negotiating, thinking beyond the current contract is often the most effective strategy. Today’s savvy and progressive negotiators are learning bickering over price is an old-school mindset that might be appropriate for buying something from the local market, but is not the best or smartest way to lay a solid foundation for a strategic, collaborative relationship.

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