Word of Mouth: When are oral modifications of written agreements binding? Part III – Promissory Estoppel

Promissory estoppel arises when one party makes an oral promise to another party who relies on that promise and suffers some damage as a result. Under New York law, the elements of promissory estoppel are a clear and unambiguous promise, reasonable and foreseeable reliance by the party to whom the promise is made, and an […]