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Business Law.

 Explain the principle of promissory estoppel and how it relates to the requirement of consideration in contract law. In your answer, explain any limitations on its availability. Discuss the requirement of consideration and its role and value in the formation of contracts. In your answer, make sure to deal with the issue of fairness in the bargaining process. Discuss the “freedom of contract,” explaining what the implications and limitations are in the context of contract law.

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