What is the Doctrine of Promissory Estoppel?
February 8, 2019Be careful what you promise, because your promise could be legally binding. That, in a nutshell, is the legal principle known as promissory estoppel. While consideration is an important element of an enforceable contract, the doctrine of promissory estoppel is an exception to this rule because the promise is legall…
DetailsWhat are the Elements of a Binding Contract in Arizona?
January 9, 2019While contracts need not be in writing to be binding, there are three elements that must be a part of any agreement—written or oral—to be considered binding and enforceable in Arizona. Offer One party creates an offer by proposing—either in writing, verbally, or sometimes mere actions—an exchange of somethi…
DetailsWhat is Breach of Fiduciary Duty?
November 30, 2018A fiduciary duty is a responsibility to act in the best interests of someone or something else. It is made legally binding either by statute, case law, or by contract. A company’s Board of Directors has a fiduciary duty to shareholders; an attorney has a fiduciary duty to his or her clients. When a breach [&helli…
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