In Betts v. Townsends, Inc. (Del. 2000) 765 A.2d 531, the Delaware Supreme Court explained: To determine whether collateral estoppel applies to bar consideration of an issue, a court must determine whether: '(1) The issue previously decided is identical with the one presented in the action in question; (2) the prior action has been finally adjudicated on the merits; (3) the party against whom the doctrine is invoked was a party or in privity with a party to the prior adjudication; (4) the party against whom the doctrine is raised had a full and fair opportunity to litigate the issue in the prior action.' (Id. at p. 535.)