Final answer:
Estoppel is a legal principle used to prevent a party to a contract from contradicting prior statements or actions if another party has relied upon them. It ensures the integrity and obligation of contracts are maintained within the legal system.
Step-by-step explanation:
The legal process described herein is related to the enforcement of contracts, where a party may seek to prevent another party from reasserting a right or privilege after it has been waived. In legal terms, this is often related to the concept of estoppel, which prevents a party from taking a position that contradicts their prior acts or statements if that contradiction would unfairly harm another party who relied on the original position. Estoppel serves to uphold the fairness and integrity of contracts, ensuring that parties cannot go back on their word once they have led others to rely on them.
Laws must not impair the obligation of contracts nor abridge the privileges of citizens or deny due process and equal protection of the laws. Contracts are rooted in property rights and provide individuals legal recourse if agreements are not respected. Therefore, the legal system ensures that contractual rights are protected from unjustified interference by other parties or the state.