7-1 Duress and Undue Influence

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Presentation transcript:

7-1 Duress and Undue Influence GOALS Recognize when genuine assent is not present Identify the two key elements in undue influence Chapter 7

GENUINE ASSENT When two parties make a valid offer and acceptance, there is said to be a “meeting of the minds”--that is, each fully understands the terms of the agreement and agrees with it. We call this Genuine assent Genuine agreement Mutual assent Chapter 7

GENUINE ASSENT If there is no genuine assent because one party is taking advantage of the other, the contract may not be valid. Valid - enforceable by both or either party in court. Chapter 7

Genuine Assent Void - not enforceable by either party in court. Chapter 7

Genuine Assent Voidable - enforceable by only one of the parties - the one who was wronged. The wronged party has the choice to Rescind (rescission) or disaffirm- back out of the transaction. Ratify- agree to be bound by the contract. Chapter 7

Genuine Assent There are four types of contracts which may not have genuine assent. These are generally voidable. Duress Undue Influence Fraud Mistake (these may be valid, void, or voidable) Chapter 7

GENUINE ASSENT AND DURESS Coercion involved in agreement Not duress if the threat is something the person has a legal right to do Chapter 7

GENUINE ASSENT AND DURESS Threats of illegal or tortious conduct Threats to report crimes Threats to sue Economic threats Chapter 7

List the various forms of legal duress. Chapter 7

UNDUE INFLUENCE AND ASSENT Usually involves a relationship of trust One party wrongfully dominates the other party to take unfair advantage in a contract Needs trusting relationship and unfair persuasion to be undue influence Chapter 7

What are the key elements in undue influence? Chapter 7