LAW 505-002 – Contracts I
Restatement Second of Contracts § 2
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- A promise is a manifestation of intention to act or refrain from acting in a specified way, so made as to justify a promisee in understanding that a commitment has been made.
- The person manifesting the intention is the promisor.
- The person to whom the manifestation is addressed is the promisee.
- Where performance will benefit a person other than the promisee, that person is a beneficiary.