Promissory Estoppel and Common Law Analysis

To ensure a party does not go back on their promise when another party has relied upon that promise.

Promissory Estoppel operates to stop a party from going back on their promise. Consideration involves the exchange of promises, making it a useful tool in providing a remedy for aggrieved parties.

It stops the party from going back on their promise.

<p>Central London Property Trust Ltd v High Trees House Ltd KB 130.</p> Signup and view all the answers

<p>Party A leased properties from Party B at £2,500 a year. After World War 2, Party B agreed to reduce the rent to £1,250 due to difficulties in letting the flats.</p> Signup and view all the answers

<p>Due to the difficulty of letting all the flats out during World War 2.</p> Signup and view all the answers

<p>It prevents Party B from reclaiming the arrears in full for £2,500 as Party A had acted upon the promise of paying £1,250.</p> Signup and view all the answers

<p>The promise must be intended to be binding, intended to be acted upon, and actually acted upon.</p> Signup and view all the answers

<ol> <li>Need for an existing legal relationship. 2. Detrimental reliance on the promise. 3. Can only be used as a defense. 4. Inequitable for promisor to go back on the promise.</li> </ol> Signup and view all the answers

<p>Generally, promissory estoppel can only operate when there is a pre-existing legal relationship.</p> Signup and view all the answers

<p>The promisee must rely on the promisor's promise for promissory estoppel to operate.</p> Signup and view all the answers

<p>He expressed the view that it could apply to parties without an existing legal relationship.</p> Signup and view all the answers