Confusion in Contract Law: Promissory Estoppel vs Accord and Satisfaction
contract mh_cet_law intermediate comparisonMaine ye 2 concepts padhe hain, lekin kisi bhi tarah samjha nahi. Kisi ko bataein kya promissory estoppel aur accord and satisfaction mein faida hai? Dono mein kya fark hai exactly? Maine ye questions khaane ke liye bhi padhe ho, abhi bhi nai samajh gaya hai 😂. Toh someone explain kripya.
Example: Yeh hai koi company nai, jo 1st May ko ek project complete karna promise karti hai, lekin 1st May ke baad woh project complete nahin karta. Kya company ke paas promissory estoppel ka use hona chahiye ya accord and satisfaction ka?
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"Hey, koi tension na, yeh concept aapko thodi confuse karega lekin don't worry, practice karke aapko clear hoga. Promissory Estoppel aur Accord and Satisfaction dono hi contract law ke under aate hain, lekin alag-alag tarike se. Promissory Estoppel mein promise ke bina koi contract na ban sakta hai, jabki Accord and Satisfaction mein ek existing contract ko settle karne ke liye use kiya jata hai.