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The three main components needed for promissory estoppel are the promisor, the promisee, and the promise that wasn't honored. The injustice happens when the promisee suffers a loss when he relied on the promise, and the promise wasn't kept.
For the promissory estoppel doctrine to be applied, the following elements are required:There must be a clear and definite promise.The promisor should have expected that the promisee would rely on the promise.The promisee reasonably relied on the promise by acting or refraining from some act.More items...
The doctrine prevents the promisor or enterprise from going back on their word or promise. For example, a vendor makes an oral promise to the customer to replace the goods if they do not fit the customer size requirements. The customer purchases the clothes and takes them home.
Examples of Promissory Estoppel An example of promissory estoppel might be applied in a case where an employer makes an oral promise to an employee to pay the employee a specified monthly or annual amount of money throughout the full duration of the employee's retirement.
The elements of a promissory estoppel claim are (1) a promise clear and unambiguous in its terms; (2) reliance by the party to whom the promise is made; (3) the reliance must be both reasonable and foreseeable; and (4) the party asserting the estoppel must be injured by his reliance. (US Ecology, Inc.