TURNER MORRISON AND CO., LTD. vs HUNGERFORD INVESTMENT TRUST LTD.

The Supreme Court recognized the doctrine of promissory estoppel, establishing that a promise made by one party, which the other party relies upon to their detriment, can be enforced even without consideration. In this case, Hungerford Investment Co. was held to be entitled to rely on the resolutions passed by Turner Morrison, which promised to discharge tax liabilities, as it acted on those promises and refrained from demanding dividends. The court upheld the plea of promissory estoppel, dismissing Turner Morrison's claim for recovery of taxes paid on behalf of Hungerford.