Asked by Kamia Bryan on May 21, 2024
Verified
Reasonable reliance on a promise is the only requirement for promissory estoppel to apply.
Promissory Estoppel
A legal principle preventing a party from retracting a promise when the other party has reasonably relied on that promise and acted upon it, leading to a detriment.
Reasonable Reliance
Relying on a statement or action in a manner that a reasonable person would consider justified under the circumstances.
- Recognize the application and requirements of promissory estoppel within contract law.
Verified Answer
NS
Noble SharmaMay 25, 2024
Final Answer :
False
Explanation :
For promissory estoppel to apply, several requirements must be met beyond reasonable reliance on a promise, including the promisor's expectation that the promise will induce action or forbearance, actual action or forbearance by the promisee, and injustice that can only be avoided by enforcing the promise.
Learning Objectives
- Recognize the application and requirements of promissory estoppel within contract law.
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