Do you think line is between economic duress-hard barganing

Assignment Help Business Law and Ethics

Reference no: EM133678979

Assignment:

Bell v. Levy. John Bell is a Canadian businessman who advanced the sum of $250,000 to another businessman named David Levy. The money was to be used for investment in gaming and casino projects in Asia. Shortly after the funds were advanced, the gaming industry in Asia took a downturn and Mr. Bell and Mr. Levy entered into negotiations to repay the money advanced. At the completion of the negotiation, the parties signed a contract in which Mr. Levy agreed to repay the full amount of $250,000 to Mr. Bell. A few months after the contract was signed, Mr. Levy stopped repaying Mr. Bell and launched a court action seeking to have the contract overturned due to economic duress.

Specifically, Mr. Levy claimed that during the contract negotiations, Mr. Bell said that if he did not sign the contract he would "report his family members to the tax authorities" and that he would "bad mouth Levy to their mutual business contracts and to Canadian government officials in Ottawa." Do you believe a case for economic duress is made here? Why or why not? What do you think the line is between economic duress and hard bargaining?

Reference no: EM133678979

Questions Cloud

What data would you need to inform business decisions : What data would you need to inform business decisions in this part of the process? How would this data inform your decision making?

Would the consequences be minimal or manageable : Who or what would each option affect? Would the consequences be minimal or manageable? Which idea would cause the least amount of loss or harm?

Concept of unconscionable conduct : General notions of fairness and justice, which are relevant to the concept of unconscionable conduct.

High potential employees for the coaching program : Calculate the ROI for the high potential employees for the coaching program.

Do you think line is between economic duress-hard barganing : Do you believe a case for economic duress is made here? Why or why not? What do you think the line is between economic duress and hard bargaining?

Diversity management manual for multinational company : Diversity Management Manual for a multinational company with a subsidiary in the Caribbean

Why farmers choose to be certified organic producers : Explain/discuss why farmers choose to be certified organic producers? What are the benefits of taking part in such a program?

Your research problem and capstone project : Summarize your research problem. Identify the framework that aligns with your research problem and capstone project.

Elements of a binding contract present in this case : Do you believe that a binding contract has been formed between Century 21 and Zoocasa?

User Account

All Pages