Asked by Yoselin Ramirez on Jun 17, 2024
Verified
The doctrine of promissory estoppel:
A) is a doctrine enforcing contractual promises.
B) includes as a requirement within the doctrine that there has been justifiable reliance on the promise.
C) is applied in almost every contract enforcement due to frequent misinterpretations.
D) is a remedy for fraud.
Promissory Estoppel
A rule of law that bars an individual from retracting a commitment made to another if the second party has justifiably depended on this pledge to their harm.
Justifiable Reliance
A principle in contract law that an individual can act based on the assurance or promise of another, assuming such dependence is reasonable and logical.
Contract Enforcement
The legal mechanisms and procedures used to ensure that the terms of a contract are fulfilled by the parties involved, or to seek remedies in cases of breach.
- Acquire knowledge on the theory of promissory estoppel and its implementation in upholding promises outside of a contractual agreement, centered on the promisee's reliance.
Verified Answer
Learning Objectives
- Acquire knowledge on the theory of promissory estoppel and its implementation in upholding promises outside of a contractual agreement, centered on the promisee's reliance.
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