Promissory Estoppel
A Promissory Estoppel is a Common Law Jurisdiction that prevents a party from going back on a promise even without a formal contract if the other party relied on that promise to their detriment.
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- See: Contract Law, Equity (Law), International Law, Common Law Jurisdictions, Court, Black's Law Dictionary, Legal Doctrine, Common Law, Reliance Interest.
References
2023a
- (GM-RKB ChatGPT, 2023) ⇒ Summarize the concept Promissory Estoppel in 1- 2 paragraphs, promt.GM-RKB ChatGPT (model: gpt-4-1106-preview) Retrieved: 2023-12-10
- QUOTE: Promissory Estoppel is a legal principle that occurs in contract law, preventing a party from retracting a promise that they made, when the other party has reasonably relied on that promise to their detriment. In essence, if one party makes a promise to another, and the recipient of the promise relies on it to their subsequent disadvantage or makes a significant change in their position expecting the promise to be fulfilled, the promisor can be "estopped" from arguing that an enforceable contract never existed. The doctrine serves as a remedy designed to avoid injustice that would occur if the promisor were allowed to backtrack on their commitment.
To invoke promissory estoppel, certain elements typically must be present: there must be a clear and unambiguous promise; reasonable and detrimental reliance on the promise by the promisee; and a finding by the court that enforcement of the promise is necessary to prevent an unfair result. Promissory estoppel is used in cases where a formal contract does not exist but where enforcing the promise is required to maintain justice. It acts as a counterbalance to strict contractual principles, recognizing that fairness sometimes necessitates the upholding of promises beyond the confines of traditional contract law.
- QUOTE: Promissory Estoppel is a legal principle that occurs in contract law, preventing a party from retracting a promise that they made, when the other party has reasonably relied on that promise to their detriment. In essence, if one party makes a promise to another, and the recipient of the promise relies on it to their subsequent disadvantage or makes a significant change in their position expecting the promise to be fulfilled, the promisor can be "estopped" from arguing that an enforceable contract never existed. The doctrine serves as a remedy designed to avoid injustice that would occur if the promisor were allowed to backtrack on their commitment.
2023b
- (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Estoppel Retrieved:2023-9-11.
- Estoppel is a judicial device in common law legal systems whereby a court may prevent or "estop" a person from making assertions or from going back on his or her word; the person being sanctioned is "estopped". [1] Estoppel may prevent someone from bringing a particular claim. Legal doctrines of estoppel are based in both common law and equity. [2] It is also a concept in international law. [3]
- ↑ Black's Law Dictionary defines estoppel as a "bar or impediment raised by the law, which precludes a man from alleging or from denying a certain fact or state of facts, in consequence of his previous allegation or denial or conduct or admission, or in consequence of a final adjudication of the matter in a court of law".
- ↑ See Jorden v Money [1854] 10 ER 868
- ↑ T. Cotter, H. P. Müller, "Estoppel" in Max Planck encyclopedia of Public International Law, April 2007.