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Breach of contract is not an equitable remedy. If one has a breach of contract claim, then you cannot typically file an accompanying promissory estoppel claim. Specifically, promissory estoppel is not available when an unambiguous contract exists that covers the issue for which damages are sought.
Ing to contract law, an agreement made between two or more people or business entities, in which there is a promise to do something in return for a gain or advantage, is legally binding.
The biggest difference between a promissory estoppel claim and a claim for breach of contract is that promissory estoppel does not require consideration. See Court Opinions. That is, the plaintiff/promisee did not have to do anything or promise something in exchange for the defendant's promise. See.
This means that, even though not specifically stated in the contract, it is implied or understood that each party to the contract must act in good faith and deal fairly with the other party in performing or enforcing the terms of the contract.
The statute of limitations for promissory estoppel based on oral promises is two years. (§ 339, subd.
Overview. Within contract law, promissory estoppel refers to the doctrine that a party may recover on the basis of a promise made when the party's reliance on that promise was reasonable, and the party attempting to recover detrimentally relied on the promise.
Promissory Estoppel The defendant made a clear and unambiguous promise. The plaintiff acted in reliance on the defendant's promise. The plaintiff's reliance was reasonable and foreseeable. The plaintiff suffered an injury due to reliance on the defendant's promise.
Promissory Estoppel is a related principle which can act as the exception to one of the main rules of consideration - that for consideration to be valid, it must have economic value and involve an exchange of benefit/detriment between the parties.