Economic Duress

Question 1

Intro

Answer 1

X may be able to claim under economic duress against y

Question 2

Definition

Answer 2

When someone enters into a contract as a result of financial threats

key requirements are:
-there must be pressure which is illegitimate -leaves victim with no real choice and
-causes them to enter the contract
UNIVERSAL TANKSHIP

Question 3

The court in PAO identified Following factors to help decide weather economic duress was present

Answer 3

-did p protest about the pressure?
-did they have any other course of action available ?
-were they independently advised?
-did they take any steps to make the contract void?

Question 4

Side rule
If the threat is lawful it is not an economic duress

Answer 4

CTN Cash e Carry v Gallagher

Question 5

Conclude

Answer 5

The d will be successful/ unsuccessful in their claim of economic duress

Question 6

Remedies

Answer 6

Cannot claim for remedies but can ask for restitution