- promissory
- /promas(6)riy/ Containing or consisting of a promise; in the nature of a promise; stipulating or engaging for a future act or course of conduct.As to promissory oath- promissory warranty, see those titles@ promissory estoppelThat which arises when there is a promise which promisor should reasonably expect to induce action or forbearance of a definite and substantial character on part of promisee, and which does induce such action or forbearance, and such promise is binding if injustice can be avoided only by enforcement of promise. "Moore" Burger, Inc. v. Phillips Petroleum Co., Tex., 492 S.W.2d 934.Elements of a "promissory estoppel" are a promise clear and unambiguous in its terms, reliance by the party to whom the promise is made, with that reliance being both reasonable and foreseeable, and injury to the party asserting the estoppel as a result of his reliance. James King & Son, Inc. v. De Santis Const. No. 2 Corp., 97 Misc.2d 1063, 413 N.Y.S.2d 78, 81.See Restatement, Second, Contracts, No. 90@ promissory fraudA promise to perform made at a time when the promisor has a present intention not to perform. It is a misrepresentation of the promisor's frame of mind and is, for that reason a fact which makes it the basis of an action for deceit. It is sometimes called common law fraud@ promissory noteA promise or engagement, in writing, to pay a specified sum at a time therein stated, or on demand, or at sight, to a person therein named, or to his order, or bearer. An unconditional written promise, signed by the maker, to pay absolutely and at all events a sum certain in money, either to the bearer or to a person therein designated or his order, at a time specified therein, or at a time which must certainly arrive. A signed paper promising to pay another a certain sum of money. An unconditional written promise to pay a specified sum of money on demand or at a specified date. Such a note is negotiable if signed by the maker and containing an unconditional promise to pay a sum certain in money either on demand or at a definite time and payable to order or bearer. U.C.C. No. 3-104@
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.