Estoppel is a legal process used for what purpose?

Estoppel is a legal principle that prevents a party from asserting something contrary to what is implied by a previous action or statement when it would be unjust or inequitable to allow the party to do so. In this context, it specifically operates to prevent a party from reasserting a right after they have waived it. This means that if a person or entity has voluntarily given up a certain right or claim—whether through action, inaction, or explicit agreement—they cannot later claim that right again to the detriment of the other party, who may have relied on the original waiver.

For example, if an insurance company accepts a late premium payment and does not cancel a policy right away, they may be estopped from later claiming they can cancel the policy due to that late payment. The reliance on the company's initial acceptance creates an expectation that the policy will remain in force. This principle is important in the context of insurance and legal agreements, as it fosters fairness and consistency in dealings among parties.

The other options do not accurately reflect the definition or purpose of estoppel, as they suggest reinforcement, denial of claims, or enforcement of payments in a way that does not pertain to the core function of preventing the reassertion of rights after waiver.