Home -> Law Blog Directory -> New York Blogs -> Sui Generis

New York

: Sui Generis

Define That Term #317

By Nicole Black, Esq.

Last week's term was promissory estoppel, which is defined as: promissory estoppel A type of estoppel that prevents a person who made a promise from reneging when someone else has reasonably relied on the promise and will suffer a loss if the promise is broken. For example, Forrest tells Antonio to go ahead and buy a boat without a motor, because he will sell Antonio an old boat motor at a very reasonable price. If Antonio relies on Forrest's promise and buys the motorless boat, Forrest cannot then deny his promise to sell Antonio the motor at the agreed-upon price....

(This is a content summary only. If you're reading this anywhere other than an RSS reader, the content has been lifted. Please visit my blog, Sui Generis http://nylawblog.typepad.com , to read the entire post)

Full post as published by Sui Generis on April 21, 2009 (boomark / email).