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promissory estoppel

Promissory estoppel is an equitable theory of recovery that permits enforcement of a promise when one or more elements necessary to create an enforceable contract are missing.

The elements of promissory estoppel are generally: (1) a promise; (2) foreseeability of reliance by the promisor; (3) substantial and reasonable reliance by the promisee to its detriment; and (4) enforcing the promise is necessary to avoid injustice.

In Alaska, promissory estoppel serves as a legal remedy that allows a party to enforce a promise even when a formal contract does not exist or certain elements for a contract are lacking. The doctrine is based on the principle of fairness and seeks to prevent injustice that would result if the promise were not enforced. The elements required to establish promissory estoppel in Alaska are: (1) a clear and definite promise, (2) the promisor's expectation or foreseeability that the promisee will rely on the promise, (3) actual and reasonable reliance on the promise by the promisee to their detriment, and (4) the necessity of enforcing the promise to avoid an injustice. If these elements are met, an Alaska court may require the promisor to fulfill their promise or provide compensation for the promisee's reliance. This doctrine is particularly relevant in situations where formal contract requirements are not satisfied, but where parties have acted in reliance on promises made.

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Contracts

promissory estoppel

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Alaska State Code

Alaska State Code

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Contracts

promissory estoppel