BUSINESS LAW
BUSINESS LAW
17th Edition
ISBN: 9780357007594
Author: Mann
Publisher: Cengage Learning
Question
Book Icon
Chapter 11, Problem 1CO
Summary Introduction

To discuss: The kinds of duress and its legal effects.

Expert Solution & Answer
Check Mark

Explanation of Solution

Duress: The duress is an illegal act or threat that overwhelms the self-determination of a party. The kinds of duress is as follows:

Physical compulsion: If one person force another to an agreement over real bodily power renders the contract void and that individual exerting the pressure is answerable in compensation as essential to evade unfair enhancement.

Improper threats: By means of social and financial coercion, send-off the victim with no sensible substitute to approving with the additional influential party; threat might be clear or incidental from words or behaviour.  A personal test is utilized to define whether the threat really persuaded agreement on the part of the individual demanding to be the victim of pressure; creates the agreement voidable at the choice of the forced party.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Describe the two major requirements that the government must prove to establish that a defendant engaged in a pattern of racketeering activity.
PLEASE EXPLAIN THE IMAGE ATTACHED, THANK YOU
In 2012, Angela took out a $15,000 loan against the cash surrender value of her whole life insurance policy. The funds were required to help pay for remodeling and redecorating her home. As a consequences of taking out the loan Angela had to report $3,000 of policy gain in 2014. She repaid $5,000 of the loan at the end of 2015, as well as paying the $600 of loan interest due for the year. What were the tax consequences to Angela and the policy as a result of the 2015 payments? A. She will be able to deduct $5,600 from her taxable income for 2015 ad the ACB of the policy will increased by $2,000. B. She will be able to deduct $3,000 from her taxable income for 2015 and the ACB of the policy will increase by $2,600. C. She will not be able to claim any deduction from her taxable income for 2015 and the ACB of the policy will increase by $5,650. D. She will be able to deduct $3,600 from her taxable income for 2015 and the ACB of the policy will increase by $2,000
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Text book image
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Text book image
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Text book image
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Text book image
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Text book image
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON