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Wording for promissory note?
wording for promissory note with collateral
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
Where can you find a template for a promissory note for a friend?
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.
If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
Why does a Promissory Note indicate the state where executed?
State laws vary. The promissory note would be subject to the laws of the state where it was executed.State laws vary. The promissory note would be subject to the laws of the state where it was executed.State laws vary. The promissory note would be subject to the laws of the state where it was executed.State laws vary. The promissory note would be subject to the laws of the state where it was executed.
The doctrine of promissory estoppel requires a clear and definite promise?
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The circumstances where an offer cannot be withdrawn under promissory estoppel is also known as?
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)
When promissory estoppel is used by the courts it is because there is NOT an enforceable contract present. true or false?
True. Promissory estoppel is applied by courts in situations where there is no enforceable contract, but one party has made a promise that the other party reasonably relied upon to their detriment. This legal principle aims to prevent injustice by allowing the reliance on the promise to be enforced, even in the absence of a formal contract.
What is estopel?
Estoppel is a legal principle that prevents a person from arguing something contrary to a claim they previously made or accepted as true, especially if doing so would harm another party who relied on the original claim. It aims to uphold fairness and prevent inconsistency in legal proceedings. There are various forms of estoppel, including equitable estoppel and promissory estoppel, each addressing different scenarios where reliance on a statement or action is at stake. Essentially, estoppel serves to protect the integrity of legal agreements and representations.
I have a complaint along with 100 to 150 people who have a promissory estoppel upon hiring.?
You can file a class action, find an attorney here http://www.lawinfo.com/attorney/Class-Action/
What is the difference concepts between fraudulent misrepresentation and promissory estoppell?
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
What is a Promissory Estoppel?
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).
Is double jeopardy applied in small claims?
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.
Who signs estoppel certificate?
The estoppel certificate is typically signed by the party who is providing the certificate. For example, if a tenant is providing the estoppel certificate to a landlord, the tenant would sign the certificate.
Who pays for a estoppel letter?
you do!
What are the differences between estoppel by negligence and estoppel by representation?
Estoppel by representation occurs when one party makes a false statement or representation that another party relies on to their detriment. Estoppel by negligence, on the other hand, arises when a party fails to exercise due diligence or care in a situation and the other party suffers harm as a result. In estoppel by negligence, the focus is on the negligent actions or inactions of the party rather than a deliberate misrepresentation.
What is agency by estoppel and agency by holding out?
If.
