economic duress
- A form of coercion where one party uses unjust or immoral behavior to instill a fear of financial hardship in another party, limiting their ability to freely consent to a business deal
- The company resorted to economic duress to force the small business into an unfavorable contract.
- A business can sue for economic duress if they were forced into a contract due to fear of financial ruin.
- Economic duress was claimed when an individual felt pressured into signing a business agreement due to a threat of significant economic loss.
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