George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?

Question

Bonnie

Business

24 July, 06:39

George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?

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Answers (1)

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Adelyn Stewart · Answer 1

Promissory Estoppel

Explanation:

Promissory estoppel states that a person who has promised to fulfill a contract cannot go back on the promise even if consideration was yet to be given. The affected party can file suit against the party who refused to fulfill his promise and can claim damages.

Promissory estoppel was created to protect parties under contract from incurring damages due to backing off by the other party. Here, Suzy can sue George on the basis of promissory estoppel.