Estoppel

A right errors if a creditor has behaved in a manner that is incompatible with the subsequent assertion of the right in question, according to standards of reasonableness and fairness. This is called estoppel

There are two situations involving estoppel:

• If the creditor has given the debtor justified confidence that the creditor will no longer enforce his claim; or
• If the debtor’s position would be unreasonably disadvantaged if the creditor still asserts his claim.

Estoppel requires special circumstances that demonstrate one of the above situations. The mere lapse of time is not sufficient (limitation has been instituted for this).

A special circumstance that you might think of is a statement from the creditor that the claim will no longer be invoked. Such a notification will then have to be made by someone in such a position that the debtor may make this notification.