Explain the rule known as "The Rule in Pinnel's Case" and how it impacted upon the doctrine of consideration

Synopsis: This essay examines the rule knows as The Rule in Pinnel's Case and how it impacted upon the doctrine of consideration. It also examines the problems arising from the Rule in Pinnel's Case, the subsequent exceptions that were developed to circumvent the rule and in detail the most important exception of them; Promissory estoppel and how it solved the problem's arising from the Rule. The distinction between traditional estoppel and this new type of …showed first 75 words of 2241 total…

…showed last 75 words of 2241 total…An introduction to the law of contract, 5th edn, Thomson Lawbook Co, Pyrmont, NSW. Latimer, P, 2004, Australian business law, 23rd edn, CCH Australia, North Ryde, NSW. Miles, C & Dowler, W 2005, A guide to business law, 16th edn, Thomson Lawbook Co, Pyrmont, NSW Parker, D & Box, G 2005, Business Law for Business Students, Thomson Lawbook Co, Pyrmont, NSW. Vermeesch, RB & Lindgren, KE 2005, Business law of Australia, 11th edn, LexisNexis Butterworths, NSW.