Are there any instances in which a contract could exist even though the parties did not complete the deal?

If one party makes a statement or a promise that causes another party to rely on that statement in such a way that he or she is financially injured by that reliance, then a court will enforce the statement or promise as if it was a completed contract. The court does not need to find an agreement or consideration in order to enforce the promise like a contract.

The idea of giving a remedy against a person who has broken his or her promise appeals to most people. However, the "detrimental reliance" of the promisee (the person to whom the promise is made) on the promise must be reasonable and foreseeable by the promisor (the person who made the promise) at the time of his or her statement. If the promisee took action that the promisor could not have anticipated, the promisor is not required to live up to the promise.

Example: John tells Doris he will pay her $3,000 to take care of his children for the summer. Doris cancels her less lucrative summer employment in favor of John's offer, but at the last minute John takes in a foreign exchange student who will do the work for free. Doris may be able to receive damages from John for the lost earnings she suffered by relying on his promise.

But, if John tells Doris he will pay her $3,000 to take care of his children for the summer and Doris drops her health insurance coverage because she assumes John will cover her, her assumption is not based on a promise made by John. Therefore, Doris can not get damages from John for her increased medical expenses.