WHAT IS MEANT BY THE TERM "UNCONSCIONABLE CONTRACT"?
In the past fifteen years the concept of unconscionablitity has become a significant theme in the Australian law of contract. Liberal theories, which locate freedom of contract as central, have been tempered by an increasing emphasis on justice and conscionable conduct in contractual relations. Virginia courts have defined an unconscionable contract to be "one that no man in his senses and not under a delusion would make, on the one hand, and as no fair man would accept, on the other." In other words, the inequality present in the contract must be so gross as to "shock the co…
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