Estoppel Means That a Person Is Prevented by His Own

question 68

True/False

Estoppel means that a person is prevented by his own conduct from asserting a position inconsistent with such conduct,on which another person justifiably relied.

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Definitions:

Balance

The amount of money currently in an account or owing on a debt, or the practice of equating debits and credits in bookkeeping.

Recovered

The process of regaining possession or control of something lost or stolen, or the return to a normal state of health, mind, or strength.

Liability

Legal responsibility for one's actions or omissions, including the obligation to make restitution.

Dissociated Partner

A term used in business partnerships to refer to a member who has ceased their association with the partnership, affecting their rights and responsibilities towards the partnership.