MLchartDataset catalogue

Promissory estoppel

Term · Insurance and risk management · MLC-T-INS-002722

A legal doctrine that prevents a party from going back on a promise, even if a formal contract does not exist. It applies when one party reasonably relies on a clear and unambiguous promise made by another party, suffering detriment as a result of that reliance. This doctrine can compel the promisor to fulfill the promise to avoid injustice.

Table 1. Record
IdentifierMLC-T-INS-002722
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002722",
  "term": "Promissory estoppel",
  "field": "Insurance and risk management",
  "definition": "A legal doctrine that prevents a party from going back on a promise, even if a formal contract does not exist. It applies when one party reasonably relies on a clear and unambiguous promise made by another party, suffering detriment as a result of that reliance. This doctrine can compel the promisor to fulfill the promise to avoid injustice.",
  "url": "https://mlchart.com/terminology/insurance/promissory-estoppel/"
}

Record 2,772 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.