Was Is Promissory Estoppel?

Within contract law, promissory estoppel refers to the doctrine that a party may recover on the basis of a promise made when the party's reliance on that promise was reasonable, and the party attempting to recover detrimentally relied on the promise.

What is a promissory estoppel explain?

Related Content. The doctrine that a promise made without the exchange of consideration is binding and enforceable if: The defendant made a clear and unambiguous promise. The plaintiff acted in reliance on the defendant's promise.

What are three elements of promissory estoppel?

The three main components needed for promissory estoppel are the promisor, the promisee, and the promise that wasn't honored. The injustice happens when the promisee suffers a loss when he relied on the promise, and the promise wasn't kept.