Examlex
What is the study of the commonsense knowledge that people use to understand the situations in which they find themselves?
Substantive Unconscionability
A legal doctrine that allows courts to refuse to enforce a contract or part of it, if the contract is excessively unfair or oppressive.
Adhesion Conscionability
A legal concept referring to the fairness of contract terms in a standard-form agreement, where one party has significantly more power to dictate the terms.
Exculpatory Clause
A statement in a contract that frees one party (usually the drafter of the agreement) from all liability arising out of performance of the contract, generally based on factors such as consumer ignorance or a great deal of unexplained fine print that serve to deprive the less powerful party of a meaningful choice.
Age of Majority
The legal age at which an individual is considered capable of entering into contracts and other legal bindings, marking the transition into legal adulthood.
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