Promissory Estoppel Definition
Promissory estoppel is a legal doctrine that says a person can’t go back on their word if it would create an unfair situation for the person who relied on the promise. This doctrine is often used in contract law. For example, if someone tells you they will buy your house for $100,000 and you rely on that promise by selling your house and moving out, the person who made the promise may be estopped from going back on their word.
