The doctrine of _____ holds that if one or more parties made a promise, even orally, he or she cannot renege on that promise if the other party acted on reliance on the promise.

Question

Quizplus · Accepted Answer

The definition given describes the doctrine of promissory estoppel, which prevents someone from going back on a promise if the other party acted on reliance on that promise. Caveat emptor is the principle of "buyer beware," anticipatory breach is a breach of contract that occurs before performance is due, and consideration refers to something of value given in exchange for something else.

The Doctrine of _____ Holds That If One or More