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Promisee |
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PROMISEE. A person to whom a promise has been made.
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? References in periodicals archive |
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Examples of these controls include certain escrow arrangements when (1) there is a bona fide, arm's-length agreement calling for deferred payment, (2) the promisee receives no present beneficial interest from the funds while in escrow and (3) the escrow agent does not act under the exclusive authority of the taxpayer. We promote and support governance and continue as a watchdog to see that promisees made by City Hall are fulfilled. 17) Indeed, the court's definition actually closely resembles the contract-law concept of promissory estoppel, which holds that a promise becomes binding when the promisee suffers detriment in reliance on such promise, even if such detriment was not requested by the promisor as consideration. |
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