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Contract Law Complete Exam Notebook - Distinction Level Notes
LAW251 - Contract Law
144 Pages • Complete Study Notes • Year: Pre-2021
Example extract - 'The principle of Equitable Estoppel is not a part of contract law, and is not contractual in nature. In Giumelli v Giumelli the court gave three reasons why Equitable Estoppel does not undermine the law of contract, even without a strict reliance-interest based approach: 1. Courts discretion means that consideration is not being undermined – breach of contract gives rise to compensatory damages, Equitable Estoppel merely gives rise to equity in favour of the Relying Party. 2. In contract, obligation is derived from the promise of the Promisor. Estoppel is concerned with the assumption or expectation of the Relying Party (Promisee). 3. Estoppel doesn’t arise because of an unperformed promise, but the detrimental reliance.'
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