Which of the following statements is correct with respect to promissory estoppel (equitable estoppel)?
A) Where Barbra relies on Raylene's promise and suffers a loss, Barbra can sue Raylene for compensation even though the promise is gratuitous.
B) Where Hank and Jim have a contract and Hank releases Jim from part of Jim's obligation, Jim can use that release, even though it was given without consideration, as a defence if Hank sues for breach of contract.
C) Promissory estoppel means that Donna cannot revoke her offer where she has promised to hold it open for a specific period of time.
D) Where Able requests services from Cain, the doctrine of promissory estoppel requires a reasonable price to be paid even where no specific amount was agreed.
E) Promissory estoppel refers to the principle that, where a document is in writing and under seal, it is enforceable even where there is no consideration.

Question

Quizplus · Accepted Answer

Promissory estoppel is a doctrine that allows a party to enforce a promise even in the absence of consideration. Option B demonstrates this principle as Jim can use the release given by Hank, even though it was given without consideration, as a defense if Hank sues for breach of contract. The other options are incorrect as they either do not demonstrate the principle of promissory estoppel or contain factual errors.

Which of the Following Statements Is Correct with Respect to Promissory