Question

Timko served on the board of trustees of a school. He recommended that the school purchase a building for a substantial sum of money, and to induce the trustees to vote for the purchase, he promised to help with the purchase and to pay at the end of five years the purchase price less the down payment. At the end of four years, Timko died. The school sued his estate, which defended on the ground that there was no consideration for the promise. Assuming the estate is right on its theory of defending the claim against the school, is there any other theory or action the school could assert against Timko's estate to enforce the promise made by Timko?

Answer 1

Answer:

PROMISSORY ESTOPPEL.

Explanation:

This question is all about a case with no signed contract binding the promise so, the estate is very right or correct in trying to prevent them from being charged for repayment or returning or compensation. But, victory is not yet over for the estate because the school can make use of what is called the PROMISSORY ESTOPPEL.

The PROMISSORY ESTOPPEL is being used by by court if their is no signed contract between the parties involved in the deal. The estoppel will then be used in order for the plaintiff (school) to be compensated a little bit.