BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the person will be hurt financially if the promise is not kept
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it is in the best interest of justice that the contract be fulfilled
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a person relied on a clear and definite promise
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all of the above are elements of promissory estoppel
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Detailed explanation-1: -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. v.
Detailed explanation-2: -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.
Detailed explanation-3: -Estoppel is based on the principle that it would unjust, if a person intentionally by conduct or in any other manner has induced other person to believe and act upon such a representation, neither he or those representing can in a subsequent Court proceedings deny the truth.
Detailed explanation-4: -The promise must be made in clear words is not a requirement for promissory estoppel.