Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Can Ralph rescind his promise? Why or why not?

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Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Can Ralph rescind his promise? Why or why not?

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Judy orally promises her daughter, Liza, that she will give her a tract of land for her home. Liza, as intended by Judy, gives up her homestead and takes possession of the land. Liza lives there for six months and starts construction of a home. Is Judy bound to convey the real estate? Why or why not?

Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Can Ralph rescind his promise? Why or why not?

Explanation & AnswerSolution by a verified expert

Explanation

Evidences to support the arguments are as follows:

The promise of gift is noncontractual and treated under the rule of promissory estoppel. Every promise is not binding but, in this case,Individual L has taken the action of selling one's own house and constructing a new house in the promised land base on the detrimental faith on the promise made.Individual L expected to live in the land thatwas to be received as gift. For this reason, the promise has to be fulfilled by the promisor. Individual J is liable to Individual L for the change of current status of living.
The promise was verbal, and no confirmation was provided in writing. This does not constitute a valid contract between the parties. In addition, it is not necessary to fulfill all the promises of a complied gift.

Sample Response

Probable answers for the question are as follows:

Individual J has the responsibility to transfer the property as promised. The judgement would be favorable to Individual L based on promissory estoppel.
Individual J does not have the responsibility to transfer the property as promised.

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