scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 4,360
INTRODUCTION 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 conscience The landscape for business in Australia has been dramatically altered in recent years by the legislative prohibitions of misrepresentation undue influence and in limited cases unconscionable conduct Lord Denning - Unconscionable contract Unconscionable contract was first developed by Lord Denning Followings are circumstances that diverge with his thinking and the concept of conscionability need to be taken into consideration In the court case Lloyds Bank Ltd v Bundy 1975 QB 326336 Lord Denning was attempting to identify an underlying unconscionability principle based on inequality of bargaining power Lloyds Bank Ltd v Bundy 1975 QB 326336 is a case which an elderly father gave the family farm as security for operating a business under the sons management However the father did not know the business was in serious trouble and the bank manager did not disclose this information to Mr Bundy while he obtained Mr Bundys signature Mr Bundy a long time customer of the bank naive and tractable in financial matters and anxious to stand behind his only son looked to the manager for advice and assistance The farm had been in Mr Bundys family for generations it was his only significant asset and very important to him The bank manager completely aware of Mr Bundys situation did not entirely disclose the risks involved in the transaction and thus Bundy suffered the
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA