The court held that the law laid down in motilal’s case represents the correct law on promissory estoppel immunity from estoppel it is important to note that the doctrine of promissory estoppel cannot be invoked unreservedly keeping in mind factors such as rule of law and public interest. Estoppel is a vast and important area in common law legal systems although often unwieldy and hard to define, estoppel has the ability to help prevent wasting of court resources and to ensure that parties to a claim or defense are protected from judicial abuse.
Video: doctrine of promissory estoppel: definition, examples & elements the doctrine of promissory estoppel allows a party to recover the benefit of a promise made even if a legal contract does not exist.
In a general sense, promissory estoppel is a legal doctrine used in american law, which allows a party to recover on a promise, even if the promise was made without a formal consideration. Promissory estoppel is a relatively new development in order to trace the evolution of the doctrine in england, we need to refer to some of the english decisions.
The law on the doctrine of promissory estoppel is arguably still an accurate representation of law lord denning’s views expressed in d & c builders ltd v rees is one of fairness and justice he recognised the importance for all parties to be able to rely on the law of contract and the doctrine of promissory estoppel when conducting a business. Though commonly named promissory estoppel, it falls in the sphere of neither contract nor estoppel this principle is commonly invoked in common law in case of breach of contract or. A promissory estoppel relies on a promise, while the doctrine of estoppel relies on a statement of fact as a result of this foundational difference, the two doctrines complicate contractual agreements or the statement of a promise.
Promissory estoppel is one of the elements of contract law that must be considered when drafting or entering into a contract or agreement promissory estoppel a promise must normally be in a deed (legal agreement or contract) or supported by consideration to be enforced.
Promissory estoppel as a part of contract law contract law generally requires that a person receive consideration for making a promise or agreement legal consideration is a valuable asset that is exchanged between two parties to a contract at the time of a promise or agreement. Promissory estoppel like proprietary estoppel is popular types of equitable estoppel the importance of equitable estoppel was stated in crabb v arun dc (1976) 1 ch 179 that “equity comes in to mitigate the rigours of strict law it prevents a person from insisting on his strict legal rights when it would be inequitable for him to do so having regards to the dealings which has taken place between the parties.
Promissory estoppel is the idea that a promise can be enforced by the law if, after relying on that promise, the promisee is injured or suffers a resulting loss the idea of promissory estoppel is that the promisor is barred from arguing that the underlying promise at the heart of the case should not be legally upheld. Promissory estoppel is a term used in contract law that applies where there may not otherwise be an enforceable contract the importance of promissory estoppel in contract law is that it has enabled legal obligations, which fall into the category of contract law but fail to show any consideration, to be argued for. In a general sense, promissory estoppel is a legal doctrine used in american law, which allows a party to recover on a promise, even if the promise was made without a formal consideration in essence, a promissory estoppel prevents an individual from arguing that an underlying promise offered should not be upheld.