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promisor
promisor Law. (ˈprɒmɪsɔː(r)) [f. promise v. + -or: cf. promiser, promissor.] The person who makes a promise: correlative to promisee.1846 in Worcester citing Chitty. 1875 Poste Gaius ii. Comm. (ed. 2) 171 The obligation of the promisor. Ibid. iii. §100 A stipulation to convey on the day before the d...
Oxford English Dictionary
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Estoppel in English law
Detriment is measured at the time when the promisor proposes to withdraw his promise, not at the time when the promise is made. However, promissory estoppel may permanently extinguish the rights of the promisor to claim lump sum after part-payment.
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Third-party beneficiary
In other words, if the promisor is owed money by the promisee, any award to the third party for the promisor's failure to perform can be reduced by the Because the creditor beneficiary is receiving the performance of the promisor in order to fulfill the promisee's debt, the failure of the promisor to perform
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promiser
promiser (ˈprɒmɪsə(r)) [f. promise v. + -er1. (See also promisor, promissor.)] One who or that which promises; the maker or giver of a promise.1530 Tindale Answ. More iv. xi. Wks. (1573) 336/2 Faith..shall receaue according to the truth of the promiser. 1632 Massinger City Madam iii. ii, I must be A...
Oxford English Dictionary
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Option contract
In unilateral contracts, the promisor seeks acceptance by performance from the promisee. The promisor had maximum protection and the promisee had maximum risk in this scenario.
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promissor
promissor (prəʊˈmɪsə(r)) [a. L. prōmissor a promiser, agent-n. f. prōmitt-ĕre: see promit v.] † 1. Astrol. = promittor. Obs.1621 Burton Anat. Mel. i. ii. i. iv, If {saturn} by his revolution, or transitus, shall offend any of those radicall promissors in the geniture. Ibid. iii. iii. i. ii. (1651) 5...
Oxford English Dictionary
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Equitable servitude
Burden
A successor of the promisor is bound if the original promise is in writing, the covenanting parties intended the servitude to be enforceable by and against assignees, the successor of the promisor has actual, inquiry (record), or constructive notice of the servitude, and the covenant touches and
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promisee
promisee (ˌprɒmɪˈsiː) Also promissee. [f. as prec. + -ee.] The person to whom a promise is made: esp. in legal use, correlative to promisor.1733 Swift Advice to Freemen Dublin Wks. 1745 VIII. 239 The persons..possessed of the sole executive power.., and hundreds of expectants, hopers, and promissees...
Oxford English Dictionary
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Statute of Frauds and the Doctrine of Consideration
promising to do what one is already bound to do
firm offers, where it is open for a period
promises detrimentally relied on by the promise, where the promisor
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Contracts (Rights of Third Parties) Act 1999
Section 3: Defences available to promisor
Section 3 covers the defences available to the promisor if the third party brings an action against him. promisor would like access to.
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Legal benefit
Legal benefit is a legal term that means the obtaining by the promisor of that which he had no prior legal right to obtain.
Legal terminology
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Indian Contract Act, 1872
Promisor and Promisee 2(c): When the proposal is accepted, the person making the proposal is called as promisor and the person accepting the proposal is Consideration must be something which the promisor is not already bound to do.
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Act of God
In other contracts, such as indemnification, an act of God may be no excuse, and in fact may be the central risk assumed by the promisor—e.g., flood insurance general principle of act of God, epidemic can be classified as an act of God if the epidemic was unforeseeable and renders the promise discharged if the promisor
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Gold v. Eddy
Ruling
According to the reporter's summation:
In an action by the endorser against the promisor of a promissory note negotiated subsequent to the day of
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