SIGA Technologies, Inc. v. PharmAthene, Inc.

STEELE, Chief Justice:

A Delaware corporation appeals from the Vice Chancellor’s finding that it breached a contractual obligation to negotiate in good faith and is liable under the doctrine of promissory estoppel. We reaffirm that where parties agree to negotiate in good faith in accordance with a term sheet, that obligation to negotiate in good *334faith is enforceable. Where a trial judge makes a factual finding, supported by the record, that the parties would have reached an agreement but for the defendant’s bad faith negotiation, we hold that a trial judge may award expectation damages. We…