BUSINESS LAW
Section 1 Contracts
Section 2 Federal Securities Acts
Section 3 Secured Transactions
Section 4 Bankruptcy
Section 5 Debtor-Creditor Relationships
Section 6 Agency
Section 7 Regulation of Employment
Section 8 Business Structure
ETHICS
Section 9 Professional and Legal Responsibilities
FEDERAL TAXATION
Section 10 Individual taxation
Section 11 Corporate Taxation
Section 12 Partnership Taxation
Section 13 Transactions in Property
Section 14 Gift and Estate Tax, Trusts And Exempt Organizations, Other Taxation Topics

1.2.7 Promissory Estoppel

In some cases, a promise is enforceable even if there is no consideration. This situation arises if, for example, you make a pledge to a charity, the charity relies on this pledge to make expenditure commitments and then you renege. If the charity sues you, you cannot use lack of consideration as a defense.

 

The charity must show that:

  1. It relied on your promise to its detriment
  2. The reliance was reasonable, and
  3. Damages resulted.