TRUE OR FALSE FOR EACH SENTENCE Promissory Estoppel prevents an injustice when one reasonably relies on another's promise and suffers an injury (usually financial loss) as a result. A court may allow a contract to be modified or rescinded if there are unforeseen circumstances. Forbearance, or giving up a legal right, is recognized as a valid consideration. If a buyer promises to purchase whatever the seller produces she has entered into a requirement contract. A covenant not to sue is a contractual provision in which one party promises not to sue the other.

1. True.

2. True.

3.  True.

4. True.

5. True.

Explanation:

According to the principle of the promissory Estoppel, a promise s a type of a legal contract that can be legally enforced and can stop the injustice that occurred when the promise was not carried out. There are times when the circumstance changes and due to unforeseen events the contract terms can be changed by the courts as both parties are unable to keep their promises. Forbearance is considered to be promised by the debtor to pay the amount, usually for a specific period of time. A requirement contract is an example pf farmer,  who most contract with a grocery shop who later will supply the shop the vegetable an fruits that he can sell.  A contractual sue is a legal agreement that both parties agree to seek damages not to sue the party that has caused it.