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ACCT252 > Promissory Estoppel > Flashcards

Promissory Estoppel Flashcards

1
Q

5 Elements of Promissory Estoppel

A
  1. Legal Relationship
  2. Unequivocal Promise
  3. Reliance
  4. Detriment
  5. Unconscionable
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2
Q

Case for Legal Relationship

A

Burbery v Hindsbank (Farm mortgage chattel sale)

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3
Q

Case for Unequivocal Promise

A

Dale v Trustbank Waikato (Life insurance mortgage)

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4
Q

Case for Reliance

A

McDonald v AG (Wheat board refusing purchase)

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5
Q

Case for Detriment

A

Young v New Bay Holdings (Letter saying no need to apply for relief, then trying to say they ran out of time)

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6
Q

Case for Unconscionability

A

D&C Builders v Rees (Building short payment)

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7
Q

Case for only affecting subsequent rights and obligations

A

Homeguard Products v Kiwi Packaging

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8
Q

Case for rights being suspended not terminated

A

Tool Metal v Tungsten

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ACCT252 (8 decks)

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