LAWS 2202 Lecture Notes - Lecture 12: Fundamental Breach, Undue Influence, Consumer Protection
14 Dec 2019
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November 25, 2019 inequality of bargaining power (p. 411) Case: lloyd"s bank v. bundy (1974, ukca, p. 411) 1: father signs a guarantee of son"s corporate indebtedness without independent legal advice, loses farm to bank. Issues: whether a father"s signature vitiated by the inequality in bargaining power between bank and father. Indigenous vendor sells boat/licence worth ~,000 for ,930: he found out that he can"t go fishing now they looked at lloyd"s back and applied it. Issues: whether the circumstances of the transaction required court to exercise its equitable jurisdiction and set aside the contract. Levelling the playing field (mostly for contract law) on the exam. Fundamental breach: courts ignore exclusion clauses if one party completely defaults on its obligations under the contract. If you don"t do anything that you were supposed to do you can"t rely on exclusion clauses. Contra proferentem ( interpretation against the draftsmen : court construes any ambiguity against the writer of the contract (ex.
