S probably has a promissory estoppel claim if you find there's no K. L would raise a SOF claim as a defense if there's found to be a K b/c K can't be performed in a year. S could come back with an SOF exception b/c L undertook partial performance when they made timely payments for 10 years with the correct amount. S would also point to the letter as irrevocably referrable evidence of their agreement. Obviously, you need to analyze whether there was a K first before you start addressing the above. You also need to raise the enforceable agreement issue before you address the P/E and SOF claims. I would approach it like this:Is there a K b/w S&L?A. Offer (IRAC)B. Acceptance (IRAC)C. Consideration (IRAC)If you conclude there's no K, move to P/E, then damages if P/E found. If you conclude there is a K, move to damages.I would address both possibilities.Then I would raise L's defenses.SOF (IRAC)Then I would hit a C/A for S with what I mentioned above. Go through an enforceble agreement analysis also.There may be other stuff, but that's off the top of my head. Also, I'm a 1L who's yet to take an exam, so take everything I just said with a grain of salt.
Essentially you can argue either side:To argue that K exists and is enforceable: then look to Section 87 of the Restatement. There might be an option contract because of the written and signed letter. If it merely purports consideration in exchange for whatever, then the consideration does not even have to exist (although it is not helpful that this it states past consideration - but you could argue that this is also a "future action" has he is able to bring about publicity for L).To argue against the existence of K, which is probably the stronger argument, there was no detrimental reliance whatsoever to the offer = therefore no bargain and no K. In other words, the guy did not rely on the pension as a means to retire since he would have had to retire due to his injuries anyway. He is giving up nothing! So, I would have to disagree with the above arguments because promissory estoppel (detrimental reliance) will be defeated.Your welcome.