Concurrent, as in the case of mutual promises; and, 4th. Promissory estoppel provides a way in which promises can be legally binding even if no consideration has been given. An act constituting consideration must have been done at the desire or request of the promiser. Executed, or Something done before the making of the obligor's promise. However, any usage, custom or trade will be valid as long as it is not inconsistent with provisions of Contract Act. The threats to the limitations of promissory estoppel, manifested from the continuing evolution of promissory estoppel, may pose turbulence in contract law and open the flood gate to litigation.
In the House overturned the decision of a fairly heavy-weight Court of Appeal on the very issue of estoppel, thereby illustrating the level of confusion about the meaning of the doctrine. Void agreement 2 g :- An agreement not enforceable by law is void. Must be distinguished from an invitation to treat which is where a party communicates that it is prepared to enter negotiations with a view to forming a contract. Thus, Principal will be liable to third parties for acts done by Agent, but agent will not be responsible to Principal for his i. Estoppel is an equitable as opposed to common law construct and is therefore discretionary.
Generally, both words are used inter-changeably. The use of the internet and electronic technology is also becoming increasingly common in the context of forming contractual relationships. On the other hand, it rules the internal relationship between principal and agent as well, thereby imposing certain duties on the representative diligence, accounting, good faith, etc. The landlord claimed that Carr could not rely on her promise since she had not acted on his promise because she would have entered into the lease without any such promise having been made. A mutual promise can be of following types - a Mutual and independent - Where each party must perform his promise independently and irrespective of whether the other party has performed or willing to perform e.
Under American jurisprudence, equitable estoppel is available only as a defence, while promissory estoppel can be used as the basis of a cause of action. Since the word used is 'compensation', punitive damages cannot be awarded. Pledge is bailment for security. Something must be supplied in return for the promise made by the offeror, eg money. You should consult a local lawyer. Conditional acceptance or qualified acceptance is no acceptance. A paper trail is important to proving a written or electronic contract.
Who - The names of the parties. A contract, even one with errors, is legally binding upon the signing parties. Viner defines it to be a cause or occasion meritorious, requiring a mutual recompense in deed or in law. This means that as long as there is consideration for the promisee, it is immaterial, who has furnished it. An offer which is accepted and for which valid consideration is given;.
If it is done at the instance of a third party or without the desire of the promisor, it will not be good consideration. For example: Say you have an illegal contract with a drug dealer. Illustrations to section 201 ii By the agent renouncing the business of agency; iii By the business of agency being completed; iv By the principal being adjudicated insolvent Section 201 of The Indian Contract Act. A, who also has an account with C, orders the amount to be transferred to B's credit and this is done by the banker. Or it is the reason which moves the contracting party to enter into the contract.
In bailment, possession of goods is transferred, but property i. Evidence - When a defendant has been arrested, he is frequently induced to make confessions in consequence of promises made to him, that if he will tell the truth, he will be either discharged or favored: in such a case evidence of the confession cannot be received, because being obtained by the flattery of hope, it comes in so questionable a shape, when it is to be considered evidence of guilt, that no credit ought to be given to it. Agreements founded upon an immoral consideration are not to be enforced. Penalty is also payable if provided in contract. Quasi Contracts - ' Quasi' means 'almost' or 'apparently but not really' or 'as if it were'. A contract must have a promise or obligation from one party in exchange for a promise or obligation from another party.
An agreement which tends to be injurious to the public or against the public good is void. The mistake must relate to a matter of fact essential to the agreement. It only provides a framework of rules and regulations which govern formation and performance of contract. A guarantee may be either oral or written. In omnibus contractibus, sive nominatis sive innominatis, permutatio continetur. This essay has defined with the use of cases to demonstrate the successful attempts to depart from the traditional approach set by the Hughes and the High Trees cases.