A Contract Most Likely Will Be Declared Unconscionable If

question 42

Multiple Choice

A contract most likely will be declared unconscionable if:

• A) it is unbalanced, making it unfair to one party.
• B) it contains a cancellation clause.
• C) it is oppressive and the weaker party did not fully understand the consequences of the agreement.
• D) it is signed by a minor for an item of luxury.

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Definitions:

Note

A financial document that represents an agreement for one party to pay another by a certain date, often used to denote debt.

Receivables Owners

Individuals or entities that are entitled to receive payments from customers or clients for goods delivered or services provided.

Accelerate Receipt

Accelerate Receipt refers to the process of speeding up the collection or receipt of funds, often related to accounts receivable or other receivables.

Formal Instruments

Legally binding documents that record obligations, rights, or processes, such as contracts, deeds, or promissory notes.