Part a

In the law of contract, the only enforceable promises are those backed up by consideration.Discuss.

Part b

Benson Jones (subcontractor) contracted to fit new kitchens for Comfortable Homes Ltd (property developer) in a block of flats being built by Comfortable Homes Ltd.It was agreed that Benson Jones would complete the work by a specified date.One month before the completion date, Benson Jones indicated that it would not be able to complete on time.Comfortable Homes Ltd, who had buyers ready to purchase the flats, offered Benson Jones a further $500,000 to make an extra effort to finish the work by the agreed date. Benson Jones agreed to do, and finished the work on time.Comfortable Homes Ltd have refused to pay Benson Jones the extra $500,000.

Required

Advise Benson Jones as to whether Comfortable Homes Ltd is legally obliged to pay the $500,000.

Part c

Explain the significances of equitable estoppels in the contractual promise.