Promissory estoppel makes a promise enforceable when the promisor attempts to withdraw the promise and the promisee has acted in reliance to his or her detriment based on the promise.

Question

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This statement accurately describes the concept of promissory estoppel as a legal doctrine that can make a promise binding even if it lacks consideration or a formal contract, as long as the promisee reasonably relied on the promise and suffered some harm or detriment as a result of that reliance. The purpose of promissory estoppel is to prevent the promisor from going back on his or her word and to provide some degree of protection to the promisee's reasonable expectations.

Promissory Estoppel Makes a Promise Enforceable When the Promisor Attempts