What is a promissory estoppel?

Promissory estoppel is a legal concept in contract law that stems from the doctrine of equity. This concept allows a court to enforce a promise even if the promise normally would not be enforceable. This legal principle is most commonly used when a promise is made in exchange for something significant that was done in reliance on that promise. In Virginia, promissory estoppel is based on the belief that an individual should not be allowed to take advantage of another individual, and should not be permitted to deny an obligation that was promised in order to receive a benefit. This means that a promise or assurance can create legal obligations, even if no contract is in place. For example, if a business owner makes a promise to an employee that they will be given a raise if they stay with the company for a certain length of time, the employee can rely on that promise. If the business owner fails to follow through with the promise, the employee can rely on promissory estoppel to get that raise. Overall, promissory estoppel is a legal concept that helps to protect individuals from unfairness and inequity when dealing with contractual promises. It helps to ensure that whenever a promise has been made, the parties involved can count on the other to uphold their agreement.

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