DECISION ON BANKRUPTCY PETITION – SUCCESSFUL DEFENSE AGAINST FRAUDULENT TRANSFER ALLEGATION

Agreement occurs when a party consents to an offer’s terms, either through explicit statements or actions that reflect those terms. In Cyprus, if parties engage in activities that align with the proposed terms, a contract may exist without a written document, provided both are aware of the offer.

In Cyprus, the defences of waiver and promissory estoppel are often raised to block claims where a party appears to have abandoned a right or made a promise not to enforce it. These principles, rooted in English common law and applied in Cypriot jurisprudence, aim to ensure fairness where one party’s conduct leads another to reasonably rely on the abandonment of a right. Below is a concise guide to when these defences apply, why they matter, and how courts assess them.

Cypriot law recognizes the right of every heir to disclaim (renounce) an inheritance, should they choose not to accept their share. This must be done within three (3) months from the date the heir becomes aware of the death of the deceased.