Commercial Law (B.Com) 1st Sem Previous Year Solved Question Paper 2022

The Doctrine of Promissory Estoppel is a legal principle that prevents a person from going back on a promise or a representation they have made, even if the promise was not supported by a formal contract. This doctrine is often used to enforce promises that would otherwise not be legally binding due to a lack of consideration, which is a common requirement for forming a contract.

Here are the key elements of the Doctrine of Promissory Estoppel:

1. Promise: There must be a clear and definite promise made by one party to another. This promise can be oral, written, or implied by conduct.

2. Reliance: The party receiving the promise must have reasonably relied on the promise to their detriment. In other words, they took some action or refrained from taking action based on the promise.

3. Injustice: Enforcing the promise is necessary to prevent an injustice. If the promisor were allowed to break their promise without consequences, it would result in unfairness or harm to the promisee.

Conclusion: When these elements are present, a court may enforce the promise, even if it was not part of a formal contract. Promissory estoppel is often used as a remedy when one party has relied on a promise to their detriment and enforcing the promise is seen as the equitable or just outcome.