A Contract Provision That Deprives One Party of the Benefits

question 61

True/False

A contract provision that deprives one party of the benefits of the agreement may seem unfair but a court is not likely to consider it unconscionable.

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Definitions:

Leased

A contractual arrangement where an owner of an asset allows another party to use that asset in return for payment over a specified period.

CCA Class

A classification system used in Canadian tax law for the depreciation of property, plant, and equipment for tax purposes.

Pre-Tax Cost

The expense of an investment or project before accounting for taxes; it reflects the gross cost.

Net Advantage

An evaluation metric that identifies the benefits minus the costs of pursuing a specific action or investment.