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 doctrine described in the question is promissory estoppel. This doctrine prevents a party from going back on a promise if the other party relied on it to their detriment. Option A (caveat emptor) refers to the principle of "buyer beware" and is not related to promises. Option C (anticipatory breach) refers to a situation where one party indicates that they will not be able to fulfill their contractual obligations in the future. Option D (consideration) is a necessary element for the formation of a contract but does not involve promises made by parties. Option E (None of the above) is not correct as the correct doctrine is mentioned in the question.

The Doctrine of _____ Holds That If One or More