LAW 122 Lecture Notes - Lecture 21: Estoppel
1 Oct 2017
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Debtor can discharge an obligation to pay 000 by merely paying 000 one day early or by cheque rather than by cash or with an additional benefit (eg a computer worth ). Many provinces also have legislation that allows a debt to be discharged upon the actual payment (and not just the promise of payment) of a lesser sum if the creditor agrees to such an arrangement. Fourth, a promise may be enforceable, without the support of any consideration at all, if it is placed under seal. In that situation, the formalities associated with a seal draw the promisor"s attention to the fact that it is likely giving up something without getting anything in return. The law assumes that a party that has gone through the requisite formalities is capable of looking after its own interests. Fifth, the doctrine of promissory estoppel may compel a party to give something for nothing if certain conditions are met.
