Economic Duress in United Kingdom

Definition of Economic Duress

In accordance with the work A Dictionary of Law, this is a description of Economic Duress : Historically within contract law, a claim that a contract was voidable for duress could only be successful if a threat to the person (i.e. physical duress) had induced the contract. Now, however, a contract may be voidable for economic duress. The essential elements are that an illegitimate threat is made (e.g. to breach an existing contract or to commit a tort) and that the injured party has no practical alternative to agreeing to the terms set out by the person making the threat.

See also voidable contract.

Economic Duress in Contract Law

According to Questions & Answers Law of Contract: Law Revision and Study Guide (Law Questions & Answers, Oxford University Press), by Adrian Chandler and Ian Brown, Economic Duress may have the following meaning: Historically within contract law, a claim that a contract was voidable for duress could only be successful if a threat to the person (i.e. physical duress) had induced the contract. Now, however, a contract may be voidable for economic duress. The essential elements are that an illegitimate threat is made (e.g. to breach an existing contract or to commit a tort) and that the injured party has no practical alternative to agreeing to the terms set out by the person making the threat. See also voidable contract.

Definition of Economic Duress

Economic duress refers to the pressure of economic threat towards the contracting parties.