Promissory Estoppel

An event shoplifter named Gerard stipulationd to stage a plan for the grade of Kids Care, which is planning to build a homeless shelter for teenagers that suck int have a place to live. After the concert is over, Gerard tells Kids Care that he took back his word and does not fate 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 ism 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 middling 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 deleterious reliance, and 3. inequity empennage be avoided only through enforcement of the promise (TexLawyer , 2011). Estoppel cant be used as the basis of an action on its own or extinguish rights. It is an genuine excogitation and its application is discretionary.

When one party agrees to accept a lesser sum in all-embracing payment of a debt, the debtor has given no consideration, and so the creditor is entitled to declare the debt in its entirety, unless the debtor offers payment at an earlier betrothal 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 comfort of the debt (Wikipedia, 2012). References TexL awyer. (2011, November 6). Gerard, an 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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