In insurance, what is meant as an estoppel?

Question

My wife is studying for her insurance agent's license and is a little stumped. Could someone explain, in a fairly straightforward way, what is meant by an estoppel?

Thanks!

Answer 1

Put simply: A person's own act, or acceptance of facts, which preclude his or her later making claims to the contrary.

Answer 2

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Answer 3

A legal bar to contradicting yourself or contradicting what has already been established as the truth; or a legal bar to relitigating something that has already been established in court.  For example, if you are a landlord and tell your tenant it's OK to pay the rent a week late, you cannot then try to evict him for paying the rent a week late.  

Answer 4

An estoppel is a legal restraint that stops someone from contradicting their previous position/assertions/commitments or denying something after previously acknowledging it as the truth.