Promissory Estoppel

An event shoplifter named Gerard ensured to stage a plan for the trip up of Kids Care, which is planning to build a homeless shelter for teenagers that fool aroundt have a place to live. After the plan is over, Gerard tells Kids Care that he took back his word and does not urgency to donate the receipts to the organization anymore. Unfortunately for Gerard, his promise is enforceable under the belief of Promissory Estoppel, despite the lack of consideration. The teaching of promissory estoppel prevents one party from withdrawing a promise do to a second party if the latter has pretty relied on the promise. (Wikipedia, 2012). In general, the elements of Promissory Estoppel are: 1. A promise somewhat expected by the promissory to induce work on or forbearance, 2. action or forbearance by the promisee in justifiable reliance on the promise, such as hurtful reliance, and 3. inequity empennage be avoided only through enforcement of the promise (TexLaw yer, 2011). Estoppel cant be used as the nucleotide of an action on its own or extinguish rights. It is an honest excogitation and its application is discretionary.

When one party agrees to accept a lesser sum in practiced payment of a debt, the debtor has given no consideration, and so the creditor is entitled to strike the debt in its entirety, unless the debtor offers payment at an earlier see to it than was antecedently agreed, because the benefit to the creditor of receiving payment early can be mind of as consideration for the promise to waive the counterweight of the debt (Wikipedia, 2012). Referenc es TexLawyer. (2011, November 6). Gerard, a! n events promoter and coordinator, promises to stage. Retrieved from http://www.justanswer.com/law/5sevs-gerard-events-promoter-coordinator-promises-stage.html Wikipedia. (2012, April 1). Estoppel. Retrieved from http://en.wikipedia.org/wiki/Promissory_Estoppel#Promissory_estoppelIf you want to get a full essay, order it on our website: BestEssayCheap.com

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