Is Estoppel An Equitable Remedy?

What is the difference between common law estoppel and equitable estoppel?

The practical difference between common law and equitable estoppels may sound in the different remedies they support.

Common law estoppels do not create a right.

The right flows from the state of facts found by the court.

Equitable estoppels create an equity which is itself a source of rights..

Can estoppel be a cause of action?

Cause of action estoppel can arise whenever a substantive claim is granted or refused. The effect is that a cause of action estoppel bars re-litigation of the cause of action by either party on grounds, other than fraud or collusion, that were not raised in the earlier proceedings (Henderson).

Why is promissory estoppel a shield and not a sword?

It has been said that promissory estoppel can only work as a shield and not as a sword. … Relying on an independent cause of action, the plaintiff can use promissory estoppel to prevent the defendant from denying an element of the claim or from asserting an element of a defence.

What is the remedy for promissory estoppel?

An agreement made by promissory estoppel will typically have the same binding effects on parties that a valid contract would. If a party breaches an obligation created by promissory estoppel, a court can choose to assign either reliance damages or expectation damages.

What is an estoppel why is it used?

An estoppel certificate is a signed statement of facts that cannot later be contradicted by the signer. It is used in mortgage negotiations to establish facts and financial obligations, such as outstanding amounts due that can affect the settlement of a loan.

Who does an estoppel certificate benefit?

By definition, an estoppel certificate is a “signed statement by a party certifying for another’s benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date.

What are equitable causes of action?

Under these principles, courts have ruled that a wide variety of causes of actions constitute actions for equitable relief, including injunctions, disgorgement of wrongdoers’ ill-gotten gains, restitution of illegally obtained profits, divestiture or dissolution, appointment of a receiver and others to assist the court …

What is equitable estoppel?

More simply put, equitable estoppel is generally words or conduct which cause another person to believe a certain state of things exists and to consequently change his or her position in an adverse way.

Is promissory estoppel an equitable remedy?

Recognizing that promissory estoppel is an equitable theory used to avoid injustice and enforce good faith, federal courts are circumventing the preemption provisions of acts like ERISA, LMRA, and others in divining a remedy sua sponte and fashioning a federal promissory estoppel claim patterned primarily on the …

When can estoppel be used?

Promissory estoppel is the legal principle that a promise is enforceable by law, even if made without formal consideration when a promisor has made a promise to a promisee who then relies on that promise to his subsequent detriment.

What are the kinds of estoppel?

Different Kinds of Estoppels under Indian Evidence Act, 1872Estoppel by record: ADVERTISEMENTS: … Estoppel by deed: … Estoppel by conduct: … Equitable Estoppel: … Estoppel by Negligence: … Estoppel on benami transactions: … Estoppel on a point of law:

What is the purpose of an estoppel?

The Purpose of Tenant Estoppel Certificates By definition, an estoppel certificate is “[a] signed statement by a party (such as a tenant or mortgagee) certifying for anoth- er’s benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date.

What is the difference between equitable and legal remedies?

Legal remedies are ones that allow the party not in breach to recover money, whereas equitable remedies involve resolution through non-monetary solutions. Equitable remedies are actions rather than a financial award.

What are the elements of collateral estoppel?

Collateral estoppel applies when the following five elements are satisfied: “(1) the identical issues were presented in a prior proceeding; (2) there was a full and fair opportunity to litigate the issues in the prior proceeding; (3) the issues in the prior litigation were a critical and necessary part of the prior …

What are the 3 equitable remedies?

There are three types of equitable remedies: specific performance, injunction, and restitution.

What are the three elements of promissory estoppel?

The three main components needed for promissory estoppel are the promisor, the promisee, and the promise that wasn’t honored. The injustice happens when the promisee suffers a loss when he relied on the promise, and the promise wasn’t kept.

The court may decide you must uphold your promises even though you don’t believe you have entered into a contract or legal agreement. Promissory Estoppel is one of the elements of contract law that must be considered when drafting or entering into a contract or agreement.

What’s an estoppel fee?

An estoppel fee is a fee charged by the homeowners association to the title company in order for them to determine the status of your account. They will determine if you are current and on-track, if you are behind, or if there are any special assessments that are due by the seller.

What is an example of equitable relief?

Equitable relief is usually a remedy for a breach of contract or in cases of intellectual property theft. A common form of equitable relief is the canceling of a contract, which ends all terms and obligations, allowing both parties to return to their pre-contract status.