Critically evaluate the current role of promissory estoppel in Contract Law In light of Lord Denning?s statement. To what extent has promissory estoppel dispensed with the need for consideration in Contract Law?

Estoppel.. is a principle of justice and of equity. It comes to this: when a man, by his words or conduct, has led another to believe in a particular state of affairs, he will not be allowed to go back on it when it would be unjust or inequitable for him to do so.’ (Lord Denning, The Discipline of Law, 1979, p223)
Critically evaluate the current role of promissory estoppel in Contract Law In light of Lord Denning’s statement. To what extent has promissory estoppel dispensed with the need for consideration in Contract Law Please include OSCOLA Reference

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