Promissory Estoppel

•  Larry Chiang posted the standalone phrase “Promissory Estoppel,” referring to the contract law doctrine that enforces a promise if the promisee reasonably relied on it and suffered detriment, even without traditional consideration.

•  Chiang, who positions himself as involved with GameStop and AMC while teaching business concepts via #cs183e, frequently shares concise legal and financial insights relevant to entrepreneurship, credit, and corporate strategy.

•  The term often arises in scenarios like debt-to-equity conversions or broken assurances in business deals, where reliance creates enforceable obligations to avoid injustice.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​