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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 Nevada, promissory estoppel serves as a legal remedy that allows a court to enforce a promise even when a formal contract does not exist or when certain elements of a contract are missing. The doctrine is based on principles of equity and fairness, aiming to prevent injustice that would result from not enforcing the promise. The elements required to establish promissory estoppel in Nevada include: (1) a clear and unambiguous promise by the promisor, (2) reasonable and foreseeable reliance on the promise by the promisee, (3) actual and reasonable reliance by the promisee to their detriment, and (4) a finding that enforcement of the promise is necessary to avoid an injustice. If these elements are met, Nevada courts may compel the promisor to fulfill the promise or provide compensation for the promisee's reliance. This doctrine is particularly relevant in situations where formal contract requirements, such as consideration, are not present, but where parties have acted in reliance on promises made.

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Contracts

promissory estoppel

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Nevada State Code

Nevada State Code

Contracts

promissory estoppel

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