Explain whether the following statement is true: “Duress is an unlawful threat of harm or injury made by one contracting party or someone acting for that party and which causes the other party to enter into the contract. It results in no consensus between the parties and a void contract.”

Explain whether the following statement is true: “Duress is an unlawful threat of harm or injury made by one contracting party or someone acting for that party and which causes the other party to enter into the contract. It results in no consensus between the parties and a void contract.”

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing

Section: Chapter Questions

Problem 5Q

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Question

Explain whether the following statement is true:

“Duress is an unlawful threat of harm or injury made by one contracting party or someone acting for that
party and which causes the other party to enter into the contract. It results in no consensus between
the parties and a void contract.”

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