Explain the concept of promissory estoppels

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Reference no: EM131808964

1. Not all promises are contracts. True or False

2. The United Nations Convention on Contracts for the International Sale of Goods applies to any party, be it a merchant or a nonmerchant.  

True or False

3. A voidable contract is one that may be canceled by only one of the parties

True or False

4. What is the difference between a unilateral and a bilateral contract ?

short-answer

5. Explain the concept of promissory estoppels.

short-answer

Reference no: EM131808964

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