Promissory Estoppel Requirements 7 I Money exchanged between the parties right of a definite and substantial nature. An offer by the promisor The promisor made a promise. Injustice would be caused if the promise were not enforced. Acceptance of the promise by the promisee The promisor should have reasonably expected to induce the promisee to reply on the promise. The promisee actually relied on the promise and engaged in an action or forbearance ofa 7 C ' '7