Give an account of the doctrine of promissory estoppel
What will be an ideal response?
Promissory estoppel is an equity doctrine that permits a court to order enforcement of a contract that lacks consideration. Promissory estoppel is applied to avoid injustice. It is usually used to provide a remedy to a party who has relied on another party's promise, but that party has withdrawn its promise and is not subject to a breach of contract action because consideration is lacking. The doctrine of promissory estoppel prevents the promisor from revoking his or her promise based on lack of consideration. Therefore, the person who has detrimentally relied on the promise for performance may sue the promisor for performance or other remedy the court feels is fair to award in the circumstances.
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_____ may also occur when higher-cost external producers are replaced by lower-cost external producers within the free trade area.
a) trade creation b) a customs union c) trade diversion d) a common market
Peter is part of a newly formed work group. He has been introduced to all the group members, but he still feels like he cannot trust them. The group has not yet chosen a leader, and Peter feels unsure about his exact role within the group. According to Tuckman's five-stage model of group development, which of the following stages is Peter's group currently in?
A. Norming B. Forming C. Storming D. Performing E. Adjourning