Estoppel is a legal principle that prevents someone from denying or asserting something that is contrary to what they previously stated or implied. Regarding the given multiple-choice question, the correct answer is d) All of the above. a) Estoppel by silence: This occurs when a person fails to speak up when they have an obligation to do so, and their silence leads another person to believe something that is false. For example, if a landlord knows that there is a problem with the property they are renting out, but fails to disclose it, they may be estopped from later denying knowledge of the issue. b) Estoppel by negligence: This occurs when a person fails to exercise reasonable care, and that failure results in another person relying on their actions or inactions. For example, if an accountant fails to catch an error on a client's tax return, and the client relies on the return being accurate to their detriment, the accountant may be estopped from denying liability for the mistake. c) Estoppel by election: This occurs when a person makes a choice between two inconsistent positions, and the choice results in another person relying on that choice. For example, if a person chooses to accept a payment plan for a debt, rather than insisting on full payment, they may be estopped from later seeking full payment.
Conditions imposed by the lender on the borrower that certain activities will or will not be carried out are called…………
The National Development Council (NDC) was set up on ____________ to strengthen and mobilize the effort and resources of the nation in support of the F...
What is the general provision required for substandard assets, without considering ECGC guarantee cover and securities available?
A company earns good profit before the close of the financial year and declares dividend. This dividend is called:
Legal Entity Identifier India Ltd, an agency accredited by the GLEIF as the Local Operating Unit (LOU) in India for issuance and management of LEI (...
Which pension fund scheme is open to all citizens of India and provides a defined contribution to the account?
Which organization was set up to manage the Investor Education and Protection Fund?
In ‘CAMELS’ what does C stand for?
Two primary qualitative characteristics of financial statements are
Which of the following Act will govern the Digital Lending regulatory framework in India?