The mortgage co. has so many days required by law to respond to the request in writing to establish the pay-off amount of mortgage note with validation if they fail to do so they are in serious violation of statute and are at risk for fines an/or penalities by the state licencing board, etc.!
If one party promises to excuse the other party from their duties, but then goes back on this promise in a unfair way, the court may allow this following the equitable doctrine of promissory estoppel, established in the case of Central London Property trust v High Trees House (1949).
Detrimental reliance (promissory estoppel), 181, 188 Cheeseman (2010) stated, "EQUITY: PROMISSORY ESTOPPEL The doctrine of promissory estoppel, or equitable estoppel, is another equitable exception to the strict application of the Statute of Frauds. The version of promissory estoppel in the Restatement (Second) of Contracts provides that if parties enter into an oral contract that should be in writing under the Statute of Frauds, the oral promise is enforceable against the promisor if three conditions are met: (1) The promise induces action or forbearance of action by another, (2) the reliance on the oral promise was foreseeable, and (3) injustice can be avoided only by enforcing the oral promise.Where this doctrine applies, the promisor is estopped ( prevented ) from raising the Statute of Frauds as a defense to the enforcement of the oral contract." (p.226)
You can file a class action, find an attorney here http://www.lawinfo.com/attorney/Class-Action/
Promissory estoppel arises when a person makes a promise not to insist on, or enforce, his legal rights against another (or his clear and unequivocal representation lead another to believe that those rights will not be insisted on) and, on the strength of that promise or representation the other party clearly, and reasonably, alters his legal position or takes a particular course of action based on the promise or representation. The first person may be "estopped" (prevented) from acting contrary to the initial promise or contract.
Agency by Estoppel
Promissory estoppel is enforcement of a promise even where there is no binding contract. What you must prove for promissory estoppel vairous from state ot state, but usually includes (1) A clear and unambiguous promise; (2) Reasonable reliance upon the promise; and (3) Detriment to the promisee, caused by his or her reliance on the promise, and (4) it would be inequitable, i.e., unfair, not to enforce the promise. Fraud requires the additional proof that the promisor never intended to perform when s/he made the promise. Since fraud requires the same elements PLUS this adiditonal element, it would seem that a fraud claim to enforce a promise would never succeed if a promissory estoppel does not. However, you can use fraud to get damages for a misprepresented fact that is not a promise. A fact might mean a statement that certian facts exist. This type of fraud requires you to prove that a defendant made a false statement of fact, intending you to rely on it - or ought to have expected that you would rely on it - and you reasonably relied ot your detriment. (F
Yeah it's estoppel, whether it be collateral estoppel or any other estoppel, it is estoppel, although estoppel and double jeopardy are synonymous. In civil matter, it's called "res judicata". That's civil double jeopardy. A case dismissed with prejudice or found that the defendant is liable will result in res judicata.
No. An HOA is required to provide an estoppel letter upon request. It can charge a fee.
Typically, the management company or treasurer of an HOA or Condo association prepares the Estoppel Letter, Form, or Certificate.
I have the promissory note to my house.
wording for promissory note with collateral
In the case of a commercial lease, the lender requires an estoppel from all tenants leasing space in the shopping center.
No....a promissory note is not valid without a consideration.
Generally, if a promissory note is not signed, it is not enforceable. The statute of frauds may also make the promissory note unenforceable.
Here is a basic definition of "estoppel." Estoppel is a legal doctrine that prevents a person from adopting a position, action, or attitude, asserting a fact or a right, or prevents one from denying a fact inconsistent with an earlier position if it would result in an injury to someone else. There are three types of estoppel and the question is not really specific enough to render a more exact answer.
I needed to sign a promissory note for my student loan money.The bank is legally owed money when you sign a promissory note.The promissory note was only one page long but used complicated language.
The ECSI website has lots of the promissory notes. The ECSI website also has the template which will help in the writing of the promissory note.
Usually, a contract is only valid when there is bargained for consideration. However, the promise might still be enforced without consideration in cases that fall under the promissory estoppel. This means that the promise reasonably relied on the promise and has suffered a detriment due to the reliance.
sample letter of promissory note
A promissory note is a fancy legal name for a legally phrased I.O.U.
In the insurance policy, the promissory was to be a 3% deductible. a08Deevic88 www.ETangerineE.webs.com
The amount written on the face of a promissory note is called face value or principal. The date on which the promissory note is written is called the issue date.