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duress |
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duress Unlawful pressure, force, or threats by one person against another. If one is the victim of duress, then any contract or agreement entered into as a result of the duress is void.The operative word in the definition is “unlawful.”Many people claim economic duress when a lender,for example, threatens foreclosure unless a borrower signs a new loan agreement with onerous terms, a high interest rate, and large fees for attorneys and other expenses. Usually, if the lender had the right to foreclose,then the threats cannot be unlawful and duress does not exist. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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