Economic Need Generally Is Sufficient to Constitute Duress

question 14

True/False

Economic need generally is sufficient to constitute duress.

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Definitions:

Bankrupt

A legal status in which a person or entity is unable to repay the debts it owes to creditors.

Notice

A formal announcement or warning given to someone.

Incidental Beneficiary

A third party who may benefit from a contract despite not being a direct party to it but has no legal rights to enforce the contract.

Breach of Contract

An act of failing to fulfill the terms of a contract between two or more parties.