What role does estoppel play in resolving disputes involving virtual currencies?

3 answers

• Swati GhadaApr 22, 2021 · 4 years ago
  Estoppel is a legal principle that prevents a person from asserting a claim or defense that is inconsistent with their previous statements or conduct. In the context of resolving disputes involving virtual currencies, estoppel can play a significant role. For example, if a party has made a representation or promise regarding a virtual currency transaction and another party has relied on that representation or promise to their detriment, estoppel may prevent the party who made the representation from denying its truth or validity. This can help ensure fairness and prevent fraud in virtual currency transactions.
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• Foged KureSep 07, 2021 · 4 years ago
  Estoppel is like a virtual currency referee. It steps in when someone tries to go back on their word or act inconsistently. In disputes involving virtual currencies, estoppel can be used to hold parties accountable for their previous statements or actions. For example, if someone promises to transfer a certain amount of virtual currency to another party and the other party relies on that promise, estoppel can prevent the promisor from reneging on the agreement. It's like saying, 'Hey, you can't change the rules of the game now!' Estoppel helps maintain trust and integrity in virtual currency transactions.
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• chummy breuerApr 10, 2023 · 2 years ago
  In resolving disputes involving virtual currencies, estoppel can be a powerful tool. Estoppel prevents a party from denying the truth of a representation or promise they have made if another party has relied on that representation or promise to their detriment. This means that if someone makes a statement or promise related to a virtual currency transaction and another party acts based on that statement or promise, the party who made the statement or promise cannot later deny its truth or validity. Estoppel helps ensure accountability and fairness in virtual currency disputes.
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