Asked by devanshi mehrotra on May 22, 2024
Verified
Contracts created by promissory estoppel are generally considered agreements without consideration.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.
Consideration
In contract law, something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
- Recognize the legal implications of promissory estoppel and how it relates to agreements without consideration.
Verified Answer
BE
Brianne ElizabethMay 28, 2024
Final Answer :
True
Explanation :
Promissory estoppel is a legal principle that allows a party to enforce a promise even when there is no formal contract or consideration, as long as they have relied on that promise to their detriment.
Learning Objectives
- Recognize the legal implications of promissory estoppel and how it relates to agreements without consideration.
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