Promissory Estoppel

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Author:
gizzygib
ID:
292454
Filename:
Promissory Estoppel
Updated:
2015-01-07 18:07:05
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Promissory Estoppel
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Promissory Estoppel
Description:
Certain promises are rendered enforceable.
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  1. Promissory Estoppel :Unilateral  Gratuitous Obligations.
    • Are undertaken voluntarily and are also known as unilateral voluntary obligations or gratuitous promises. I
    • If one person promises in definite terms to do something to benefit or favour another , he may be under a legal obligation to keep his promise.
  2. Principal of Estoppel
    • Principal of Estoppel:
    • In English Law is defined as : a principal of justice and of equity. It comes to this: when a man, by his words or conduct, has led another to believe in a particular state of affairs, he will not be allowed to go back on it when it would be unjust or inequitable for him to do so
  3. Promissory Estoppel (Black's Law Dictionary)
    Defines "promissory estoppel" as : The principal that a promise made without consideration may nonetheless be enforced to prevent injustice if the promisor should have reasonably expected the promisee to rely on the promise and if the promsiee did actually rely on the promise and if the promisee did actually rely on the promise to his or her detriment.
  4. Principal of Estoppel in American Law
    In American Law: "Speaking generally, estoppel  is a bar which precludes a person from denying or asserting anything to the contrary of that which has , in contemplation of law, been established as the truth, either by the acts of judicial or legislative officers, or by his own deed, acts, or representations, either express or implied.
  5. Application of Promissory Estoppel (is without an actual contract).
    One practical application of promissory estoppel applies to the reasonable expectation that a promise will be fulfilled without a contract. In every contract there is give and take.One party provides a good or service (performance) in order to get something in return (consideration).Promissory Estoppel can only apply in a situation where an actual contract does not exist.
  6. Explain Promissory Estoppel without a contract.
    When a family member  makes a verbal promise of goodwill and fails to follow with said promise but states "the promise could not be legally enforced because you didn't offer or promise any consideration for services rendered; therefore, there was no contract.Under the doctrine of promissory estoppel, you could prevail in a small claims court in this case because:1. Your family member made you a promise.2. Your family member should have resonably expected you to reply on that promise3. You actually DID reasonably rely on that promise, and4. You suffered a personal detriment-financial damages-as a result of relying on that promise that your family member did not fulfill.

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