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Since the discovery of spin torque in 1996, independently by Berger and Slonczewski, and given its potential impact on information storage and communication technologies, (e.g. through the possibility of switching the magnetic configuration of a bit by current instead of a magnetic field, or the realization of high frequency spin torque oscillators (STO), this effect has been an important field of spintronics research. One aspect of this research focuses on ferromagnets with low damping. The lower the damping in a ferromagnet, the lower the critical current that is needed to induce switching of a spin valve or induce precession of its magnetization. In this thesis ferromagnetic resonance (FMR) studies of NiMnSb layers are presented along with experimental studies on various spin-torque (ST) devices using NiMnSb. NiMnSb, when crystallized in the half-Heusler structure, is a half-metal which is predicted to have 100% spin polarization, a consideration which further increases its potential as a candidate for memory devices based on the giant magnetoresistance (GMR) effect. The FMR measurements show an outstandingly low damping factor for NiMnSb, in low 10-3 range. This is about a factor of two lower than permalloy and well comparable to lowest damping for iron grown by molecular beam epitaxy (MBE). According to theory the 100% spin polarization properties of the bulk disappear at interfaces where the break in translational symmetry causes the gap in the minority spin band to collapse but can remain in other crystal symmetries such as (111). Consequently NiMnSb layers on (111)(In,Ga)As buffer are characterized in respect of anisotropies and damping. The FMR measurements on these samples indicates a higher damping that for the 001 samples, and a thickness dependent uniaxial in-plane anisotropy. Investigations of the material for device use is pursued by considering sub-micrometer sized elements of NiMnSb on 001 substrates, which were fabricated by electron-beam lithography and measured by ferromagnetic resonance. The damping remains in the low 10-3 range as determined directly by extracting the Gilbert damping from the line width. Additionally magnetostatic modes are observed in arrays of elements, which is further evidence of high material quality of the samples. By sputtering various metals on top of the NiMnSb, spin pumping from the ferromagnet into the non-magnetic layer is investigated. After these material investigations, pseudo-spin-valves using NiMnSb as one of the ferromagnet, in combination with Permalloy were fabricating using a self-aligned lithography process. These samples show a GMR ratio of 3.4% at room temperature and almost double at low temperature, comparing favourably to the best single stack GMR structures reported to date. Moreover, current induced switching measurements show promisingly low current densities are necessary to change the magnetic orientation of the free layer. These current densities compete with state-of-the-art GMR devices for metal based structures and almost with tunnel junction devices. The true potential of these devices however comes to light when they are operated as spin torque oscillators to emit high frequency, tunable, narrow spectrum electromagnetic waves. These Heusler based STOs show an outstanding q-factor of 4180, even when operating in the absence of an external field, a value which bests the highest value in the literature by more than an order of magnitude. While these devices currently still suffer from the same limited output power as all STO reported to date, their sub-micron lateral dimensions make the fabrication of an on-chip array of coupled oscillators, which is a promising path forward towards industrially relevant output power.