Comparative Legal System Essay Example | Topics and Well Written Essays - 1000 words - 1

Comparative Legal System - Essay ExamplePromissory estoppel brings principles of rightfulness and equity into the equation for the first time and lowers the bar to allow more informal arrangements to have ability of law. While it would an overstatement to say that estoppel undermines common law rules of considerationbecause courts have discretion whether to apply the philosophical system or notit certainly alters the significance of consideration in contract-making.The doctrine of promissory estoppel prevents a company in a legal relationship from withdrawing a promise made to another party if the latter(prenominal) has relied on that promise and acted upon it to his or her detriment. This doctrine was resurrected after many decades in obscurity by master copy Denning in Central capital of the United Kingdom Property Trust Ltd v. lavishly Trees House Ltd 1947 KB 130. In this shield High Trees House leased a block of flats for a rate 2500 per class from Central London Property Trust. Because of the war and the German bombing of London it was very hard to find people to die hard in the flats and High Trees was losing a lot of money. In 1940, the parties made an agreement in writing to snip the rent by half. The period of time that this reduction was to last, however, was not clear. Over the next five years, High Trees paid the reduced rate. Then, in 1945, the flats were more popular and full again. There was a disagreement in the midst of the two parties and Central London sued for payment of the full rental costs. In his ruling, Lord Denning wroteI am satisfied that a promise such as that to which I have referred is binding and the only(prenominal) irresolution remaining for my consideration is the scope of the promise in the present case. I am satisfied on all the evidence that the promise here was that the ground rent should be reduced to 1,250l. a year as a temporary expedient while the block of flats was not in full, or substantially fully let, owing to the conditions prevailing . . . I am satisfied that the promise was understood by all parties only to apply under the