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The Law of Estoppel in Form

The Law of Estoppel in Form

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the legal doctrine of promissory estoppel is applied in all American states and finds its roots in equity in contract law promissory estoppel is an exception to the requirement of consideration for a contract to be enforceable even in the absence of bargained for exchange a promise is enforceable if the following three elements are satisfied one the promise or should reasonably expect or induce action or forbearance from the promisee to such action or forbearance is in fact induced and three injustice can be avoided only by enforcement of the promise we'll address each of these elements the purposes of promissory estoppel and how it's used to prevent injustice promissory estoppel was formally assured onto the stage of American contract law in 1932 in the first Restatement of contracts at the time the development of such a legal principle was viewed as a major departure from classical contract law which required consideration for a contract to be binding now it's

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