estoppel:
a bar or impediment preventing a party from asserting a fact or a claim inconsistent with a position that party previously took, either by conduct or words, especially where a representation has been relied or acted upon by others. [Dictionary.com]
Noted in the same article from the previous Word of the Day:
The Supreme Court said in 1991’s Lampf, Pleva v. Gilbertson that the three-year Securities Act time limit is a statute of repose and said in 2014’s CTS v. Waldburger that statutes of repose cannot be tolled – so, under the court’s own precedent, CalPERS can’t get around the absolute three-year time bar. “A statute of repose means repose,” Clement said. “Its defining feature is that it’s not subject to tolling or estoppel rules.”
