Chapter 12, Problem 9BCP

(a)

Summary Introduction

Case summary: Person C borrowed from the U.S bank to buy a home, but later could not afford to pay the monthly payments. The bank notified to foreclose on her home. So, person C filed for bankruptcy. The bank offered her that her mortgage will be modified, if she foregoes bankruptcy. When she withdrew the filing, the bank foreclosed.

To find: The possibility of person C to succeed on a claim of promissory estoppel.

(b)

Summary Introduction

Case summary: Person C borrowed from the U.S bank to buy a home, but later could not afford to pay the monthly payments. The bank notified to foreclose on her home. So, person C filed for bankruptcy. The bank offered her that her mortgage will be modified if she foregoes bankruptcy. When she withdrew the filing, the bank foreclosed.

To find: The code of conduct of the U.S bank and person C.