Promissory Estoppel Doctrine - Oak Brook College of Law

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Where a promissor makes a promise which he should reasonably foresee to induce the promisee's action or forebearance, the courts will enforce the promise to the extent necessary to prevent injustice.

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bvw 8 months, 3 weeks ago
A great quote and great laws. But be careful. (1) Real value must be at risk or echanged and the exchange is both ways -- one real thing one way, another the other way. The agreement may be entered into by fully sane mature persons but still not be enforecble if one sde is severely disadvantaged according to the view of the commons -- in such a case a more basic sense of equity rather than rights under contract, or expectations of the agreement on it's face. Even sane mature persons enter into foolish contracts at times, the enforcability of foolish or reckless contracts is limited by social mores and common prudence. To allow foolishnes, patent unfairness, or recklessness in promises made between perons is to debase the good in the world, and give an entryway to chaos.

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