Unconscionable Bargains Flashcards
1
Q
Unconscionable Bargains
A
A harsh transaction where one person is in a much stronger position than the other.
2
Q
unconscionable bargain requirements
A
- Special disadvantage
- Knowledge of the disadvantage
- Victimisation
3
Q
Special disadvantage
A
The party is at a special disadvantage when they are in a vulnerable position, either emotionallu, physically or mentally.
4
Q
Knowledge
A
The stronger party must know of the weaker party’s special disadvange.
5
Q
Victimisation
A
The stronger party takes advantage of the weaker parties special disadvantage, typically through unfair terms or exserting pressure to sign an agreement.
6
Q
Remedies
A
- Contract voidable at the option of the weaker party.
- Return parties to original position.
- Replace contract with the deal they thought they were getting.
7
Q
Limitations on relief
A
- a person who seeks equity must do equity.
- Laches
- Ratification
