Asked by Alexandre Al Mokhtari on May 02, 2024
Verified
________ is the legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract.
A) Forbearance
B) Promissory estoppel
C) Res ipsa loquitur
D) Res judicata
E) Mutual exclusivity
Promissory Estoppel
A legal principle that prohibits a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.
Detrimental Reliance
Occurs when a party takes action based on the promise of another, suffering harm as a result when the promising party fails to fulfill their commitment.
- Comprehend the legal principle of promissory estoppel and its utilization.
Verified Answer
Learning Objectives
- Comprehend the legal principle of promissory estoppel and its utilization.
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