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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 | Wex | LII / Legal Information Institute LII / Legal Information Institute ? Wex LII / Legal Information Institute ? Wex
Under New York law, promissory estoppel has three elements: 1) a clear and unambiguous promise; 2) a reasonable and foreseeable reliance by the party to whom the promise is made; and 3) an injury sustained by the party asserting the estoppel as a result of his reliance.
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.
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 | Practical Law - Westlaw westlaw.com ? document ? Promissor... westlaw.com ? document ? Promissor...