Week 5 - Promissory Estoppel

Question 1

What does promissory estoppel mean?

Answer 1

To stop someone going back on what they promised

Question 2

What is the first requirement for promissory estoppel?

Answer 2

Pre-existing contractual relationship

Question 3

What is the second requirement for promissory estoppel?

Answer 3

One party agrees to waive some of their rights

Question 4

What is the third requirement for promissory estoppel?

Answer 4

The party who waivered their rights knowing the other party relied on this waiver

Question 5

What is the fourth requirement for promissory estoppel?

Answer 5

That the other party DID NEED to rely on this waiver

Question 6

What does the doctrine of promissory estoppel act as?

Answer 6

A defence to a claim by a creditor for the remainder of the debt where part-payment has been accepted

Question 7

What can promissory estoppel only be used as?

Answer 7

A defence

Question 8

Promissory estoppel is an equitable principle. What does this mean?

Answer 8

It is not a legal right - it is applied at the court’s discretion