What does promissory estoppel mean? What is the difference between promissory estop? Can promissory estoppel be independent source of Rights? Some form of legal relationship either exists or is anticipated between the parties.
A contractual relationship is.
A representation or promise by one party. Traditionally, estoppel could only be used with respect to a. Reliance by the other. There are common legally-required elements for a person to make a claim for promissory estoppel: a promisor , a. In order for promissory estoppel to go into effect, the following terms must be met: A legal relationship of some kind must either already be present or be foreseen to occur between the parties. The concept that a promise can be legally upheld after a promisee has suffered a loss as a result of relying on that promise.
See full list on legaldictionary.
The promissory estoppel doctrine allows an injured party to recover on a promise upon which he relie and then suffered a loss as a result. Example of promissory estoppel:Charles is ten years from retirement age, and has worked for the company for years. (more…)