Under the Doctrine of Promissory Estoppel, a Promisor May Be

question 47

True/False

Under the doctrine of promissory estoppel, a promisor may be prevented from asserting that his or her promise is unenforceable because the promisee gave no consideration for the promise.

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Definitions:

Behavior

Refers to the actions or reactions of an organism or any living entity in response to external or internal stimuli.

Positive Reinforcement

A behavior modification method in psychology that involves rewarding desirable behaviors to increase the likelihood of their recurrence.

Punishment

A method used to reduce the occurrence of an undesirable behavior by applying an adverse stimulus or removing a positive stimulus.

Long Run

A period of time sufficient for all variables within an economic model or business scenario to be adjusted, not confined by fixed constraints.