Identify and Briefly Describe the Circumstances That Would Permit the Enforcement

question 41

Short Answer

Identify and briefly describe the circumstances that would permit the enforcement of a self-dealing contract under the Canada Business Corporations Act.

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Definitions:

Unenforceable

A term applied to a contract that, because of a law, cannot be enforced by the courts.

Substantive Unconscionability

Unconscionability that derives from one-sided, unjust, or overly harsh substance in a contract.

Maximum Interest Rate

The highest rate of interest that can be charged on loans or credit, often regulated by law to prevent usury.

Business Tort

A wrongful act, other than a breach of contract, that results in injury or damage to another's business interests.