Problem question on consideration and promissory estoppel Coursework - 1

Problem question on consideration and promissory estoppel - Coursework Example The two lecturers wish to remain anonymous throughout the programmes. The Jubilee Media has contracted Bobby Bodgit Ltd (BB), a construction company to build a studio for filming and Voice Over facilities to safeguard the identity of the lecturers. The contractor has promised to complete the work in twelve weeks. However, after eight weeks the contractor claims that the work requires an additional eight weeks to complete and the value of the contract has to be increased by  £100,000 due to increase in the cost of labour. The Jubilee Media has agreed to pay the additional amount to the BB contractor due to the importance of the event. The Jubilee Media hired to Voice Over experts and an editing engineer to edit the voices of the lecturers. The two exerts are supposed to be paid  £1,500 each while the engineer was supposed to receive  £2,000. However, after paying the contractor the additional sum of  £100,000 the Media gets into financial difficulties and offers to pay the voice editors and  £1000 each of which they agreed to take reluctantly. Media should extend the contract period by eight weeks as requested by the contractor. Also, there is another issue as to whether the two Voice Over editors and the Voice Over engineer should accept the payment of  £1000 each from the Jubilee Media as a settlement of the entire amount or whether they should claim for the balances in accordance to the terms of contract. The issue focuses on whether these parties terminate the contract in case the other party decides to breach the agreement. The court has to determine whether the unwritten promises can form a bidding agreement between the parties. Jubilee should claim the additional  £100,000 paid to the contractor BB and request the contractor to complete the contract within the agreed duration of twelve weeks. Similarly, the Voice Over engineer should claim for the remaining balance of  £1,000 from the Jubilee Media after completing the contractual obligation. Finally,