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Simple English definitions for legal terms

economic duress

Read a random definition: Buenos Aires Convention

A quick definition of economic duress:

Definition: Economic duress is when someone uses illegal or unfair tactics to make another person agree to a contract. This can happen when one person threatens to end a contract that already exists, and the other person is afraid of losing money or suffering other economic problems. If someone can prove that they were under economic duress when they signed a contract, they may be able to get out of the contract.

A more thorough explanation:

Economic duress is a term used in contract law to describe a situation where one party uses improper or illegal tactics to force another party into a commercial agreement. This coercion can take the form of threats or other forms of pressure that cause the other party to fear economic hardship if they do not agree to the terms of the contract.

To prove economic duress, a party must demonstrate that:

  • A pre-existing contract exists between the plaintiff and the defendant
  • The defendant threatens to terminate the pre-existing contract
  • The plaintiff, under duress, accepts the defendant's terms and enters into the new contract

For example, imagine that a small business owner has a contract with a supplier to purchase goods at a certain price. The supplier threatens to terminate the contract unless the business owner agrees to pay a higher price for the goods. Fearing economic hardship if they lose their supplier, the business owner agrees to the new terms under duress. In this case, the business owner may have a valid claim of economic duress.

eavesdropping | economic efficiency

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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