Promissory estoppel essay contracts are made to ensure reliability and effectiveness between the parties doing business a contract is an agreement giving rise to obligations which are enforced or recognised by law. The doctrine of promissory estoppel allows a party to recover the benefit of a promise made even if a legal contract does not exist use of this doctrine relies on how significant the promisee's. Doctrine of promissory estoppel beneficial to the plaintiff than the money (an introduction to the law of contract, 2005) there is an exception to the rule in pinnell.
The last promissory estoppel article jay m feinman in this essay, professor feinman argues that the doctrine of promissory estoppel has outlived its usefulness as a theory of contract professor feinman relies on an. Consideration or promissory estoppel legally speaking, a contract is a legally binding agreement in law between at least two parties which is enforced by law or by binding arbitration if it covers the elements of a valid legal agreement [ 1 ] , while consideration is one of the key requirements for the creation of a contract, it is known as.
Promissory estoppel is an important tool in equity to create fairness within contract law it deals specifically with consideration, which as a doctrine holds the parties that have entered into a contract to which they both intend to be bound. The statement promissory estoppel may be used as a shield but not a sword, a well as being the most famous in reference to the use of promissory estoppel, is also very apt in the description of the way in which promissory estoppel works. Sometimes an agreement without consideration will be enforced this happens when a promise which foreseeably induces promisee to act or forebear becomes binding because injustice can only be avoided by enforcement of the promise. Doctrine of promissory estoppel essay sample to begin with, the case as regards richard and ernie is related to the doctrine of promissory estoppel, which is derived from equity. Lord walker also rejected lord scott's characterisation of estoppel i have some difficulty with lord scott's observationthat proprietary estoppel is a sub-species of promissory estoppel.
Renata petrylait ] can the doctrine of equitable estoppel be applied against a government100 as the very term 'equitable' implies, the whole doctrine of equitable estoppel is a creature of equity and is governed by equitable principles 16. Promissory estoppel brian mcdonald and harry ledman are co-workers at food mart they both love model trains and have them as a hobby while having a casual discussion about the model trains, brian tells harry that after he retires he wants to sell his trains and travel. In this essay i will attempt to give explanations on the the rule of pinnel's case, promissory estoppel, and how it impacted upon the doctrine of consideration there was a pro and con between the rule of pinnel's case and doctrine of consideration. Promissory estoppel17 what was discerned from the cases of grundt and thompson was a common principle which would reconcile the doctrines of promissory and proprietary estoppel: one may therefore discern in the cases a common thread which links them together, namely, the. This essay will look into the concept of consideration as one of the key elements of legally binding contract as well as consider the doctrine of promissory estoppel it will further consider the case law on the doctrine of promissory estoppel and whether lord denning's view of the doctrine is an accurate representation of the law.
Synopsis: this essay examines the rule knows as the rule in pinnel's case and how it impacted upon the doctrine of consideration it also examines the problems arising from the rule in pinnel's case, the subsequent exceptions that were developed to circumvent the rule and in detail the most important exception of them promissory estoppel and how it solved the problem's arising from the rule. Promissory estoppel essay promissory estoppel promissory estoppel defined sometimes an agreement without consideration will be enforced this happens when a promise which foreseeably induces promisee to act or forebear becomes binding because injustice can only be avoided by enforcement of the promise. Below is an essay on promissory estoppel from anti essays, your source for research papers, essays, and term paper examples promissory estoppel is an important doctrine in contract law in which a non contractual promise lacking consideration rendered enforceable to avoid an injustice. Promissory estoppel can be traceable to hughes v metropolitan railway where the court held that by negotiation of sale the landlord led the tenant to believe that he would not enforce forfeiture for tenant failing to carry out the required repairs on the property in question. In promissory estoppel, the promisee's reliance is treated as a sufficient basis for enforcing the promise (promissory estoppel and detrimental reliance, nd) this can be viewed as a legal device that can prohibit the promissory from denying there is existence of a contract for lack of consideration (promissory estoppel and detrimental.
Promissory estoppel is of a different nature from the doctrine of consideration some may contend that it is unnecessary to have promissory estoppel since consideration will suffice for justice there are also economic arguments that extra costs may be involved to disclaim promissory intentions in a gratuitous promisei. It is commonly accepted that an estoppel is a legal doctrine which prevents a person from negating or claiming a fact due to that person's prior conduct the doctrine of estoppel has been applied for years and different forms of estoppel have been established for the purpose of this essay, i will. In this essay i will try to give accounts on the the rule of pinnel's case promissory estoppel and how it impacted upon the philosophy of consideration there was a pro and con between the rule of pinnel's case and philosophy of consideration. Below is an essay on promissory estoppel from anti essays, your source for research papers, essays, and term paper examples marketing the process by which products and services are introduced to the marketplace, (investor's world, 2008.
Estoppel essay 1 school of law lw360/363 equity 1 title: traditionally, a distinction has been drawn between cases in which promissory and proprietary estoppel may arise, although there have also been suggestions to the effect that making such a distinction is not helpful. Promissory estoppel essay sample contracts are made to ensure reliability and effectiveness between the parties doing business a contract is an agreement giving rise to obligations which are enforced or recognised by law.
'promissory estoppel is a necessary supplement to the doctrine of consideration, because it enables courts to enforce promises that have been relied upon even though the promise was not part of an exchange.