What is the doctrine of promissory estoppel?

Answer by  Ron27 (465)

Promissory estoppel occurs when a party relies on the promise made by another party which is not followed through with, and ends up being harmed by the reliance.

Answer by  Ron27 (465)

Promissory estoppel occurs when two parties, A and B, form a contract, and one party (A) fails to follow through on his end and the other party (B) relied on A's promise and was damaged by his failure to follow through.

Answer by  Platypus (180)

If you depend on someones statement of oral contract and then the revoke their offer you may recover damages based on your dependence of their offer.

Answer by  sanityrose (2664)

The Doctrine of Promissory Estoppel is used in the United States as a determent, it prevents one party from going back on their word in a contract. A party involved in a contract can recover on a promise as long as the promise is seen to be reasonable.

Answer by  palaeologus (564)

If a person promises to do something, even if that person receives no direct or indirect benefit for the promise, and someone then reasonably relies on that promise, the promising person is liable to the other for all foreseeable consequences of having failed to fulfill the promise.