7) The Hoffman's wanted to acquire a franchise for a Red Owl grocery store. (Red Owl was a corporation that maintained a system of chain stores.) Red Owl informed the Hoffman's that if they would sell their bakery in Wautoma, Wisconsin, and acquire a certain tract of land in Chilton, Minnesota, from a third party, they would be given a franchise. In reliance on Red Owl's promise, the Hoffman's sold their business and acquired the land in Chilton, but they were never granted a franchise. The Hoffman's sued Red Owl. Red Owl raised the defense that there had been only an assurance that Hoffman would receive a franchise, but because there was no promise supported by consideration, there was no binding contract to give them a franchise. Decide. Identify the name of the doctrine that applies and the criteria for enforceability. (Limit