Reliance
/rɪˈlaɪ.əns/
Definitions
- (n.) The act of depending on or trusting in something or someone.
The plaintiff's reliance on the defendant's promise led to financial loss.
- (n.) In contract law, a party's action or forbearance based on another's representation or promise.
Reliance damages compensate for losses caused by justified reliance on a contract.
Related terms
See also
Commentary
Reliance is central to doctrines like promissory estoppel where proof of reliance can substitute for consideration.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.