What is CONTRACT, ESTOPPEL BY? Definition of CONTRACT, ESTOPPEL BY in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
There are two sorts of "estoppel by contract," estoppel to deny truth of facts agreed on and settled by force of entering into contract, and estoppel arising from acts done under or in performance of contract. In re Schofield's Estate, 101 Colo. 443, 73 P.2d 1381. Finch v. Smith, 177 Okl. 307, 58 P.2d 850, 851.
"Estoppel by contract" is intended to embrace all cases in which there is an actual or virtual undertaking to treat a fact as settled. Jackson v. United Gas Public Service Co., 198 So. 633, 640, 196 La. 1. It means party is bound by terms of own contract until set aside or annulled for fraud, accident, or mistake. United Fidelity Life Ins. Co. v. Fowler, Tex.Civ.App., 38 S.W.2d 128, 131.
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