Business Law

man, sign, paper

Contractual Conditions

Sometimes performance of a contractual obligation may be contingent upon the occurrence of a condition.  Including a condition in a contract may also help regulate when performance is due. There are distinct types of conditions. Concurrent Conditions The first type are concurrent conditions. Here, both contractual promises are to be performed at the same time. …

Contractual Conditions Read More »

Unconscionability and fairness in contract law

Unconscionable Terms and Fairness in Contracts

Unconscionable terms in contracts – or the concept of unconscionability – addresses the issue of fairness in contractual relationships. It relates to the formation of contracts, or specific terms thereof, that are deemed unconscionable or unfair. The starting point is that ordinarily the courts will not inquire about the fairness of a contract, and will …

Unconscionable Terms and Fairness in Contracts Read More »

Illegal contracts

Illegal Contracts (Illegality)

Based on public policy considerations, only legal contracts or legal contractual provisions can be enforced.  There is no remedy to enforce illegal contractual agreements. What is an Illegal Contract? There are several examples of illegal contracts, including: Those that violate a statute, for example contracts that charge excessive interest rates Agreements concerning the commission of …

Illegal Contracts (Illegality) Read More »