ADM 3360 Chapter Notes - Chapter 8: Unconscionability
3 Dec 2016
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Document Summary
The importance of enforcing contracts: want to enforce agreements to preserve the integrity, reliability, and predictability of contractual relationships. (e. g. Contracts based on unequal relationships: legal capacity ability to make binding contracts. Minors: are not obligated by the contracts they make, even after they turn legal. They can enforce a contract in the case of a breach. Mental incapacity: if a party is unable to understand the nature and consequence of their agreement (illness, drugs, alcohol, etc. ) and that the other party is aware of that fact, the contract may not be enforceable: duress. Contracts that are made as a result of one of the parties being threatened with physical harm. Economic duress: the threat of economic harm that coerces the will of the other party and results in a contract: undue influence unfair manipulation that compromises someone"s free will. Actual pressure: exertion of unfair influence on the other.
