What is a promissory estoppel?

Promissory estoppel is a legal doctrine that is used in Washington debtor-creditor law. Under this doctrine, a creditor has the right to enforce a promise made by the debtor even when there is no written contract. This means that a debtor cannot deny or refuse to carry out a promise that was made. For example, if the debtor promises the creditor to pay back a certain amount of debt, the creditor can sue the debtor for breach of contract even though there is no written evidence of the promise. Similarly, if the creditor agrees to waive the debt or give additional time for the debtor to pay, this agreement can be enforced even without any written contract. In Washington debtor-creditor law, courts may use promissory estoppel when it is fair and equitable for the creditor. This means that the court must consider a variety of factors such as the length of time since the promise was made and whether the creditor actually relied on the promise in making a decision. Promissory estoppel is a powerful legal tool that creditors can use to enforce a promise made by the debtor. This doctrine is applied on a case-by-case basis and it is important to understand these different aspects of Washington debtor-creditor law before trying to settle any debts.

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What is a promissory estoppel?

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