What is a promissory estoppel?

Promissory estoppel is a legal concept used in contract law in South Carolina. It is a principle that prevents a person or company from going back on their word or promise if something was done or changed because of the promise. This concept is used to enforce contracts that are not written or even verbal. The basic components of promissory estoppel are that a promise was made, the promise was relied upon, and there was a resulting injury. For example, if a contractor promised to finish a job in 3 weeks, and the homeowner had to pay for workers and materials in reliance of that promise, the contractor cannot back out of that promise and refuse to pay the homeowner for the material or labor costs. In addition, the homeowner might be able to sue for any additional costs incurred due to the delay. In order for promissory estoppel to apply, there must have been reliance on the promise. This means that the party must have reasonably expected or believed that the promise would be kept before taking action in reliance of that promise. If a promise was made without any clear intentions of upholding it, promissory estoppel would not apply. Promissory estoppel is an important concept in contract law in South Carolina because it acts as a safeguard against one party backing out of a promise without consequence. It allows parties to rely on each other’s promises without the need for a written or verbal contract.

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