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Commercially reasonable |
: fair, done in good faith, and corresponding to commonly accepted commercial practices <a secured party after default may sell...the collateral in its then condition or following any commercially reasonable preparation Uniform Commercial Code>
| Based on Merriam-Webster's Dictionary of Law ©2001. Merriam-Webster, Incorporated Published under license with Merriam-Webster, Incorporated. http://www.m-w.com |
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promissory estoppel
an estoppel that prevents a promisor from denying the existence of a promise when the promisee reasonably and foreseeably relies on the promise and to his or her loss acts or fails to act and suffers an injustice that can only be avoided by enforcement of the promise
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