A What Are the Two Types of Duress and What

question 25

Essay

a. What are the two types of duress and what is the effect of each on the contract involved?
b. Give an example of each type of duress.
c. Who does the law intend to protect by reason of the defense of duress? Why does the law protect this type of person?

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Definitions:

Uncollectible Check

A check that cannot be processed because the maker’s bank account has insufficient funds or the account is closed.

Periodic Payments

Regular payments made over a specified period, such as monthly rent or quarterly insurance premiums.

Bank Statement

A summary of financial transactions that occurred over a given period on a bank account held by a person or business with a financial institution.

Outstanding Checks

Checks that have been written and recorded in the accounting records but have not yet been cashed or cleared by the bank.