Promissory estoppel is a legal doctrine that states that a person who makes a promise to another person cannot go back on that promise if it would cause the other person to suffer a financial or other type of hardship. The doctrine is typically used in contract law, but can also be used in other areas of law, such as real estate law. What is another word for estoppel? The most common legal term for estoppel is "estoppel by silence," which means that a person is not allowed to deny or contradict something which he or she has previously said or agreed to. What are the elements of a promissory estoppel claim? The elements of a promissory estoppel claim are: (1) a clear and unambiguous promise; (2) reasonable and foreseeable reliance on the promise; and (3) actual and substantial reliance on the promise to the detriment of the relying party.
Does promissory estoppel extinguish rights? No, promissory estoppel does not extinguish rights. It is a doctrine that is used to enforce promises that would otherwise be unenforceable due to the absence of consideration. Under the doctrine of promissory estoppel, a promise is enforceable if (1) the promisor reasonably should have expected the promise to induce action or forbearance on the part of the promisee, and (2) the promisee actually relies on the promise to his or her detriment. What is estoppel liability? Estoppel liability is a legal concept that holds a person liable for their previous statements or actions if they later try to deny or retract them. This principle is often used in contract law, to prevent one party from going back on their word and voiding the agreement. Estoppel can also be used as a defence against allegations of fraud or misrepresentation. What are the three elements of promissory estoppel? The three elements required to establish a promissory estoppel claim are: (1) a clear and unambiguous promise; (2) reasonable and foreseeable reliance on that promise; and (3) injury caused by the reliance.