When a party with full knowledge, or with sufficient notice of its rights and of all the material facts, freely does what amounts to a recognition or adoption of a contract or transaction as existing, or acts in a manner inconsistent with its repudiation, and so as to affect or interfere with the relations and situation of the parties, that party acquiesces in and assents to it and is equitably estopped from impeaching it, even if it was originally void or voidable. Estoppel is applied in accordance with established general principles, so that the transactions and dealings may result justly and fairly with the parties concerned with them.
Bernard v. Citibank, N.A., NY Slip Op 03822 (2d Dep't June 16, 2021)
