What is the test for estoppel by convention?
Ontario, Canada
The following excerpt is from Green v. Canadian Imperial Bank of Commerce, 2012 ONSC 3637 (CanLII):
Estoppel by convention “operates where the parties have agreed that certain facts are deemed to be true and to form the basis of a transaction into which they are about to enter … If they have acted upon the agreed assumption, then, as regards that transaction, each is estopped against the other from questioning the truth of the statement of facts so assumed if it would be unjust to allow one to go back on it … [references omitted]”: Ryan v. Moore, 2005 SCC 38 (CanLII), [2005] 2 S.C.R. 53 at para. 4.
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