Examlex
If you were charged the maximum rate of interest on a $1000 loan for one year, the interest cost would be $60.
Unconscionability
Describes a contract or term within a contract deemed so unfair or oppressive to one party that no reasonable or informed person would agree to it.
Risk of Loss
The responsibility for damage or financial burden that may arise from the destruction, damage, or loss of goods.
Fraud in the Inducement
A legal term referring to a deceptive act used to convince someone to enter into a contract, which significantly impacts the victim's decision to agree.
False Representation
The act of providing untrue, misleading, or deceptive information with the intent to defraud others.
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