Promissory estoppel is a rule in common law, it mainly expresses the idea that one party cannot change or act against his/her promise.
The definition of promissory estoppel is that: Promissory estoppel is the doctrine which prevents a party from breaking a promise that was not supported by consideration if: This conduct is unconscionable; The other party believed the promise and will suffer a significant loss.
Promissory estoppel is established by Lord Denning in a well-known case: the high tree case in 1947. You can find further information about the high tree case yourself in the internet, I'm here just telling you the elements of promissory estoppel:
1.the promise was clear and definite.
2.the promisee justifiably relied on the promise.
3.the promisee suffered a significant loss on the basis of the promise.
4.enforcing the promise will serve the best interests of justice.
So maybe we can conclude from the four elements that: the soul of promissory estoppel is actually "my word is my bond".
The definition of promissory estoppel is that: Promissory estoppel is the doctrine which prevents a party from breaking a promise that was not supported by consideration if: This conduct is unconscionable; The other party believed the promise and will suffer a significant loss.
Promissory estoppel is established by Lord Denning in a well-known case: the high tree case in 1947. You can find further information about the high tree case yourself in the internet, I'm here just telling you the elements of promissory estoppel:
1.the promise was clear and definite.
2.the promisee justifiably relied on the promise.
3.the promisee suffered a significant loss on the basis of the promise.
4.enforcing the promise will serve the best interests of justice.
So maybe we can conclude from the four elements that: the soul of promissory estoppel is actually "my word is my bond".