Explain Any Limitations on the Availability of Promissory Estoppel

question 98

Essay

Explain any limitations on the availability of promissory estoppel.

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Definitions:

Proportionate Share

This refers to an investor's or shareholder's portion of profits, losses, or stock based on their percentage ownership in the company.

Equity Method

An accounting technique used to record investments in other companies, where the investment is initially recorded at cost and adjusted thereafter for the investor's share of the investee's income or losses.

Investment Revenue

Income generated from the holding of investments like stocks, bonds, real estate, and other assets.

Fair Value

An estimate of the market value of an asset or liability, based on current prices or valuations in an orderly transaction between market participants.