economic duress Flashcards
definition of economic duress
when someone enters into a contract as a result of financial threats such as the threat to damage a business or person financially
universe tankships
there must be illegitimate pressure which leaves the victim with no real choice and causes them to enter the contract
pao on
established a list of factors to determine economic duress
did the claimant protest about the pressure
yes is ED
did the claimant have any other reasonable course of action
no is ED
was the claimant independently advised before taking action
no is ED
did the claimant take steps to make the contract void
yes is ED
side rule: lawful threat
if the threat was lawful this is not ED CTN CASH AND CARRY v GALLAGHER
remedies
cant claim damages but can request restitution
