Promissory estoppel and breach of contract are generally inconsistent remedies. Promissory estoppel requires that there must have been (1) a promise, (2) on which the party seeking to recover relied to his or her detriment, (3) in a way the person making the promise expected or should have expected, and (4) the reliance resulted in…
Legal Articles
Constructive Fraud, Statute of Frauds
The statute of frauds generally requires that certain types of contracts be in writing. There are, however, certain exceptions to this rule, many of which stem from the aim to prevent further fraud. In other words, the statute of frauds exists so as to prevent certain contracts from being enforced unless they are in writing,…
Appeals and Estoppel
Estoppel is a legal theory which generally prevent litigants from taking inconsistent positions in Court. Common forms of estoppel include equitable estoppel and promissory estoppel. However, estoppel can also be used to preclude a party’s ability to appeal a judgment. Steven Family Trust v. Huthsing, 81 S.W.2d 664, 667 (Mo. Ct. App. 2002). More specifically,…
Oral Agreements to Modify, Postpone Debt Payments
Often times there are apparent attempts to modify loan agreements (e.g., promissory notes, repayment contracts, purchase agreements, etc.) orally. This is especially true with promissory notes or mortgages when the debtor/paying party requests more time to make payments. In Missouri, however, oral modifications to credit agreements are not valid unless they are in writing. Section…
Promissory Estoppel & Contract Claims
What’s the difference between promissory estoppel and breach of contract? As you most likely may guess, a breach of contract indeed requires the existence of a valid enforceable contract. Among other things, an offer, acceptance, and valid consideration must be present. Promissory estoppel, however, is a much broader cause of action which can be used…