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Word Count: 1,098
To begin with the case as regards Richard and Ernie is related to the Doctrine of Promissory Estoppel which is derived from Equity According to this doctrine if one party to the contract promisor makes a promise which the other party to the contract promisee acts upon the promisor is estopped from going back on his promise even though the promise did not provide any consideration Theoretically by this concept Ernie should be estopped from asking Richard for the remaining balance of 8356140 The main reason is that Ernie promised to accept a smaller sum of 8356160 from Richard in full settlement intending Richard to rely on that promise so he cannot go back to the original promise of 8356300 as a full payment Hereafter a number of cases concerning this Doctrine shall be discussed as a reference in support of the case of Richard and Ernie One of the most important cases relevant to the case of Richard and Ernie is Central London Property Trust Ltd v High Trees House Ltd 1947 KB 130 from which the Doctrine of Promissory Estoppel originated The Court held that part of money as requested by the plaintiff could be recovered According to Lord Denning if the plaintiff asked to claim the whole sum of money he would fail to recover the money even though the defendant did not provide any consideration It is because the plaintiffs contractual right for the whole sum of rent in 1940-5 was destroyed by agreeing to accept the reduced rent in the wartime By the Doctrine of Promissory Estoppel the plaintiff was estopped from getting the full rent in wartime so he could only recover the rent after wartime Referring to this case it shows that in the case of Ernie and Richard Ernie has no contractual rights to claim the remaining money There is another similar case which is Tool Metal Manufacturing Co Ltd v Tungsten Electric Co
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