Discuss the following in in regards to Issue, Rule applicable, Analysis, and Conclusion: Is the contract between Larry and Tom is Enforceable?   Will Tom be able to recover damages based on the doctrine of promissory estoppel?   Case: Landlord Larry Hansen agreed to lease his farm to Tenant Tom Brady for five years and $2,000 per month rent, with the understanding that the agreement would be later reduced to writing and signed by the parties

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Discuss the following in in regards to Issue, Rule applicable, Analysis, and Conclusion:

Is the contract between Larry and Tom is Enforceable?

 

Will Tom be able to recover damages based on the doctrine of promissory estoppel?

 

Case:

Landlord Larry Hansen agreed to lease his farm to Tenant Tom Brady for five years and $2,000 per month rent, with the understanding that the agreement would be later reduced to writing and signed by the parties. It was also part of the understanding that Tom, at his expense, would fertilize the land before cultivating it.

 

One week after this discussion, Tom sent a letter to Larry setting forth the above terms. Larry did not acknowledge receipt of this letter. Several months later Tom wrote Larry stating that Tom was going ahead with the fertilizing as discussed. Again, Larry did not acknowledge this second letter although Tom proceeded with the fertilizing. After Tom finished the fertilizing, Larry informed Tom that he did not intend to sign a lease for the land.

 

Tom brought a suit for the costs of fertilizing the farm and lost past and future profits for crops intended to be grown on the land.