Alongside consideration, contract law leans on a second principle that can bind a promise relied on to someone's cost. That principle is promissory:
AEstoppel
BEstimate
CEscrow
DEstate
Answer & Solution
Correct answer: A. Estoppel
1. Someone acted on a promise and suffered by doing so.
2. The promisor is then stopped from denying the promise.
3. That doctrine is promissory estoppel.
_Source: OpenStax Business Law I Essentials 2e, Chapters 7 and 8, Contract Law and Sales Contracts._
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