The Concept of Estoppel Is

question 27

Multiple Choice

The concept of estoppel is

• A) where the terms of the contract require that one of the parties be stopped from performing a particular act.
• B) where the promisee is stopped from denying the truth of a fact or statement.
• C) where the court stops a party from performing a contract.
• D) where the maker of a statement or promise is prevented by the courts from either denying the truth of the statement, or going back on a promise.
• E) where the court suspends the operation of the contract.

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Definitions:

Creditor Relationship

The financial relationship that exists between a borrower or debtor and a lender, where the lender provides a loan or credit to the borrower.

Cash Equivalents

Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Mature

In finance, it refers to the stage at which an investment or financial instrument reaches its final due date and the principal is returned to the investor.

Long-term Investment

Investments held for an extended period, typically exceeding one year, with the intention of achieving higher returns over time.