What is the principle of promissory estoppel?

The principle of promissory estoppel is specifically centered around a party's reliance on a promise made by another party. This legal doctrine allows a party to enforce a promise even in the absence of a formal contract, as long as they have relied on that promise to their detriment.

For promissory estoppel to apply, there must typically be a clear promise, a reasonable reliance on that promise by the party seeking enforcement, and a situation where it would be unjust not to enforce the promise. This principle is particularly important in situations where a promise has been made, and one party has taken action or refrained from taking action based on that promise.

Promissory estoppel is not limited to written contracts, nor does it apply only to verbal agreements, making those alternative options incorrect. The essence of promissory estoppel lies in the concept of reliance and the resulting injustice if the promise is not honored. Therefore, the assertion that a party can enforce a promise if they relied on it accurately encapsulates this legal principle.