Economic Duress definition: Copy, customize, and use instantly
Introduction
"Economic Duress" occurs when a party is forced into a contract or agreement due to unlawful pressure or threats that severely impact their financial interests, leaving them with no reasonable alternative but to accept the terms. This form of duress typically involves an abuse of economic leverage or a coercive threat that puts the party under extreme financial distress.
Below are various examples of how "Economic Duress" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Economic Duress" in contract negotiation
This definition ties "Economic Duress" to contract negotiation scenarios.
"Economic Duress" refers to a situation where a party is forced to enter into a contract under significant financial pressure, such as threats of financial ruin or bankruptcy, with no reasonable option to avoid the agreement.
Definition of "Economic Duress" in employment agreements
This definition connects "Economic Duress" to employment contracts.
"Economic Duress" means a situation where an employee is coerced into signing an employment contract or accepting terms under financial threats, such as the withholding of wages, benefits, or job opportunities.
Definition of "Economic Duress" in supplier agreements
This definition links "Economic Duress" to supplier or vendor agreements.
"Economic Duress" refers to a situation in which a supplier is pressured into accepting unfavorable terms or conditions due to threats of losing a key business relationship or revenue stream, leaving them with no alternative but to agree.
Definition of "Economic Duress" in settlement agreements
This definition ties "Economic Duress" to settlement agreements.
"Economic Duress" means the acceptance of a settlement or resolution in a legal dispute under extreme financial pressure, such as threats of prolonged litigation or significant legal costs, that leave no other reasonable option.
Definition of "Economic Duress" in loan agreements
This definition connects "Economic Duress" to loan or credit agreements.
"Economic Duress" refers to a borrower being coerced into agreeing to a loan or financing agreement due to threats of foreclosure, financial instability, or loss of essential resources, with no reasonable alternative to avoid the terms.
Definition of "Economic Duress" in real estate transactions
This definition links "Economic Duress" to real estate transactions.
"Economic Duress" refers to a situation where a party is forced to complete a real estate transaction or sign an agreement under financial duress, such as threats of foreclosure or loss of income, with no other viable option.
Definition of "Economic Duress" in mergers and acquisitions
This definition ties "Economic Duress" to mergers or acquisitions.
"Economic Duress" refers to a party being coerced into agreeing to the terms of a merger or acquisition due to the threat of financial loss, such as the risk of bankruptcy or severe financial distress, forcing them to accept unfavorable terms.
Definition of "Economic Duress" in franchise agreements
This definition connects "Economic Duress" to franchise contracts.
"Economic Duress" means the coercion of a party into signing a franchise agreement due to financial threats, such as the risk of losing an established business or being forced into a restrictive, unfavorable agreement.
Definition of "Economic Duress" in business partnerships
This definition links "Economic Duress" to business partnerships.
"Economic Duress" refers to a business partner being coerced into accepting unfavorable partnership terms or continuing a partnership under financial threats, such as the risk of severe financial loss or the collapse of the business.
Definition of "Economic Duress" in consumer contracts
This definition ties "Economic Duress" to consumer contracts.
"Economic Duress" refers to a consumer being pressured into agreeing to a contract or purchase due to financial threats, such as the loss of essential goods or services, leaving them with no reasonable choice but to agree to the terms.
Definition of "Economic Duress" in insurance contracts
This definition links "Economic Duress" to insurance contracts.
"Economic Duress" means a party being forced to accept the terms of an insurance contract due to threats, such as the denial of necessary coverage or the cancellation of existing policies, leaving them with no viable alternatives.
Definition of "Economic Duress" in government contracts
This definition connects "Economic Duress" to government contracts.
"Economic Duress" refers to a contractor being coerced into accepting government contract terms under the threat of losing significant government business or other financial penalties, leaving them with no reasonable choice but to comply.
Definition of "Economic Duress" in sales contracts
This definition ties "Economic Duress" to sales agreements.
"Economic Duress" means the pressure applied to a buyer or seller in a sales contract due to the threat of financial harm, such as withholding goods or services, making it impossible for the party to negotiate fair terms.
Definition of "Economic Duress" in intellectual property agreements
This definition links "Economic Duress" to intellectual property contracts.
"Economic Duress" refers to a situation where a party is forced to sign an intellectual property agreement or license under financial pressure, such as the risk of losing exclusive rights or royalties, creating an environment of coercion.
Definition of "Economic Duress" in joint venture agreements
This definition ties "Economic Duress" to joint venture agreements.
"Economic Duress" refers to a situation where one party is coerced into accepting the terms of a joint venture agreement due to financial threats, such as the loss of funding, market share, or key relationships, leaving them no reasonable option but to comply.
Definition of "Economic Duress" in debt settlement
This definition connects "Economic Duress" to debt settlement agreements.
"Economic Duress" means a debtor being forced to accept unfavorable terms in a debt settlement or restructuring agreement due to threats of asset seizure, bankruptcy, or severe financial loss, with no alternative options available.
Definition of "Economic Duress" in non-disclosure agreements (NDAs)
This definition links "Economic Duress" to non-disclosure agreements.
"Economic Duress" refers to a party being pressured into signing a non-disclosure agreement under financial threats, such as the risk of losing a lucrative deal or access to critical business opportunities, leaving them with no reasonable alternative.
Definition of "Economic Duress" in international contracts
This definition ties "Economic Duress" to international business agreements.
"Economic Duress" refers to the coerced acceptance of unfavorable terms in an international contract due to financial pressures, such as the risk of losing key international markets or access to vital resources, leaving the party with no viable choice.
Definition of "Economic Duress" in construction contracts
This definition connects "Economic Duress" to construction agreements.
"Economic Duress" refers to a contractor being coerced into agreeing to the terms of a construction contract under financial threats, such as the risk of losing crucial business or facing crippling penalties, leaving them no reasonable alternative but to comply.
Definition of "Economic Duress" in banking agreements
This definition ties "Economic Duress" to banking and financial agreements.
"Economic Duress" refers to a situation where a party is coerced into agreeing to the terms of a banking or financial agreement due to threats of foreclosure, asset seizure, or a severe financial crisis that leaves them with no reasonable alternative but to comply.
Definition of "Economic Duress" in commercial leases
This definition links "Economic Duress" to commercial leasing.
"Economic Duress" refers to a situation where a business tenant is pressured into signing a commercial lease agreement under the threat of eviction or financial ruin, making it impossible to refuse the terms.
Definition of "Economic Duress" in international trade agreements
This definition connects "Economic Duress" to international trade deals.
"Economic Duress" means the coerced acceptance of terms in an international trade agreement due to financial threats, such as the withholding of essential goods or services, forcing one party to accept unfavorable conditions.
Definition of "Economic Duress" in construction financing
This definition ties "Economic Duress" to construction financing arrangements.
"Economic Duress" refers to the pressure on a contractor or developer to accept unfavorable terms in a construction financing agreement due to the threat of losing access to capital or resources required to continue a project.
Definition of "Economic Duress" in supplier contracts
This definition links "Economic Duress" to supplier agreements.
"Economic Duress" refers to a situation where a supplier is compelled to accept a contract with unfavorable terms, such as delayed payments or price reductions, due to the financial threat of losing a critical customer or market position.
Definition of "Economic Duress" in insurance policy renewals
This definition ties "Economic Duress" to the renewal of insurance policies.
"Economic Duress" means a policyholder being coerced into accepting unfavorable renewal terms or higher premiums due to the threat of losing coverage or critical benefits, leaving them with no choice but to comply.
Definition of "Economic Duress" in public procurement contracts
This definition connects "Economic Duress" to government procurement agreements.
"Economic Duress" refers to a situation where a contractor is pressured into agreeing to the terms of a public procurement contract due to the threat of losing government business, forcing them to accept less favorable conditions.
Definition of "Economic Duress" in supply chain management
This definition links "Economic Duress" to supply chain agreements.
"Economic Duress" refers to a supplier or vendor being coerced into accepting unfair terms in a supply chain contract due to financial pressures or threats, such as the loss of a major client or strategic market.
Definition of "Economic Duress" in technology licensing
This definition connects "Economic Duress" to technology or intellectual property licensing.
"Economic Duress" means the coerced acceptance of a technology licensing agreement under financial pressure, such as the threat of losing access to critical technology or intellectual property needed for business continuity.
Definition of "Economic Duress" in non-compete clauses
This definition ties "Economic Duress" to non-compete agreements.
"Economic Duress" refers to the coerced signing of a non-compete agreement, where an employee or contractor is forced to accept restrictive employment conditions due to the threat of losing their job, compensation, or other financial benefits.
Definition of "Economic Duress" in corporate restructuring
This definition links "Economic Duress" to corporate restructuring scenarios.
"Economic Duress" refers to the coerced acceptance of terms during a corporate restructuring process due to financial instability, such as the threat of bankruptcy or job loss, leaving stakeholders with no viable alternative.
Definition of "Economic Duress" in vendor financing agreements
This definition ties "Economic Duress" to vendor financing arrangements.
"Economic Duress" means a buyer being forced into a vendor financing agreement due to the financial threat of losing access to critical products or services, leaving them with no reasonable alternative but to accept the terms.
Definition of "Economic Duress" in franchise disputes
This definition connects "Economic Duress" to disputes in franchise agreements.
"Economic Duress" refers to a franchisee being pressured into agreeing to settlement terms or accepting unfavorable contract amendments due to threats of financial loss or business closure, leaving them with no other reasonable option.
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