Asked by Asona Fagan on Jun 21, 2024
Verified
Threatening to breach a contract unless the party agrees to modify the terms of a contract is an example of economic duress.
Economic Duress
Refers to a situation where one party compels another to agree to a contract under threats or pressure that deprive the victim of their free will.
- Understand the criteria for economic duress in contract modifications.
Verified Answer
MR
Michelle RamosJun 28, 2024
Final Answer :
True
Explanation :
Economic duress is where one party induces the formation or modification of a contract by threatening another party's economic interests.
Learning Objectives
- Understand the criteria for economic duress in contract modifications.