62 Chapter 2Making a contract
An outline of the requirements of promissory estoppel is set out in Figure 2.4. However, it
must be remembered that the doctrine is surrounded by considerable uncertainty.accept this, and sued for the full amount, they would be bankrupt before the case came to
court. The claimants reluctantly agreed to take the £300, in full settlement of the debt. Once
they had received this money, the claimants sued for the remaining £182.
HeldThe claimants were entitled to the remaining £182. Foakesv Beerapplied and the
lesser sum of money could not be satisfaction for the greater sum owed. The defendant
could not use promissory estoppel as a defence. It was not inequitable for the claimants to
break their promise to accept £300 in full settlement of the debt because they had been
pressurised into making this promise.
CommentSince this case, the law on economic duress has changed a great deal. If such
a case were to arise today the agreement to accept the lesser sum of money would be
voidable for economic duress. (See Chapter 4.)Figure 2.4 An outline of the effect of promissory estoppel