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Promissory estoppel: Difference between revisions
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In short, a '''promissory estoppel''' is not supported by [[Contracts/Consideration#Exceptions_to_the_Consideration_Requirement|consideration]]. | In short, a '''promissory estoppel''' is not supported by [[Contracts/Consideration#Exceptions_to_the_Consideration_Requirement|consideration]]. | ||
==Elements== | |||
A promissory estoppel requires 3 elements: | |||
#a promise: this promise reasonably induces the promisee's action or forbearance (not doing something) | |||
#reliance: the promisee would have to rely on the promise. The promissee's reliance is roughly equivalent to consideration. This reliance needs (1) substantial action and (2) justifiable reliance. | |||
#detriment: the promisee must have suffered substantial detriment. | |||
For example, a mother can promise to fully pay for her daughter's college education only after her graduation with a bachelor's degree in physics (no other subject allowed) in less than 5 years. If mathematics and physics aren't the daughter's forte, she will have to incur a detriment by studying much harder, study for many more hours, & pay for additional study materials than if she were majoring in history with a strong background in history. | |||
==See also== | ==See also== | ||
*[[Contracts/Estoppel#Promissory_estoppel_2]] | *[[Contracts/Estoppel#Promissory_estoppel_2]] | ||
Revision as of 19:47, June 24, 2023
In United States contract law, a promissory estoppel allows a party to enforce a promise even if no contract was formed.
In short, a promissory estoppel is not supported by consideration.
Elements
A promissory estoppel requires 3 elements:
- a promise: this promise reasonably induces the promisee's action or forbearance (not doing something)
- reliance: the promisee would have to rely on the promise. The promissee's reliance is roughly equivalent to consideration. This reliance needs (1) substantial action and (2) justifiable reliance.
- detriment: the promisee must have suffered substantial detriment.
For example, a mother can promise to fully pay for her daughter's college education only after her graduation with a bachelor's degree in physics (no other subject allowed) in less than 5 years. If mathematics and physics aren't the daughter's forte, she will have to incur a detriment by studying much harder, study for many more hours, & pay for additional study materials than if she were majoring in history with a strong background in history.
