This view was subsequently adopted inEquiticorp Finance Ltd (in liq.) v BNZ (1993) 32NSWLR 50 where the New South Wales Court of Appeal refused to overturn a paymentwhich the appellant claimed it had only made because BNZ had subjected it to economicduress. It was clear that BNZ had applied pressure; what was less clear was whether and, ifso, how that pressure had gone beyond what was commercially legitimate and becomeillegitimate — in the sense of being either unlawful or unconscionable. The court found thatit had not. Their Honour’s concern not to substitute their own judgement (in hindsight) forthe commercial decisions that the parties had made at the time is evident in the judgment ofKirby P (as he then was). He noted:Courts should be even more circumspect about extending the remedy of economicduress to cases of the contracts between substantial businesses than they would bein other cases of equal bargaining power where different considerations obtain. ...The parties in this case had available to them legal and managerial advice of a highorder. Each was accustomed to making large decisions affecting millions of dollarsand the lives of thousands of people.Similar considerations were held to be relevant in News Ltd v Australian Rugby FootballLeague Ltd (1996) 58 FCR 447 (the ‘Super League’ case). There, the pressure that theARL exerted on its member clubs to ‘persuade’ them not to contract with News Ltd was heldnot to be illegitimateand, therefore, the clubs were held not to have been subjected toeconomic duress. Unfortunately, the exact ambit of economic duress is not yet completely clear. What is clear,however, is that it is an accepted part of our law and that, in appropriate cases, it provides ameans whereby a party on whom a contractual obligation has been unconscionablyimposed can escape that obligation.LegislationIn Australia duress is also dealt with in s 50(1) of the Australian Consumer Law. It providesthat ‘a person must not use physical force, or undue harassment or coercion’ in connection
As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.
Temple University Fox School of Business ‘17, Course Hero Intern
I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.
University of Pennsylvania ‘17, Course Hero Intern
The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.
Tulane University ‘16, Course Hero Intern
Ask Expert Tutors
You can ask 0 bonus questions
You can ask 0 questions (0 expire soon)
You can ask 0 questions
(will expire )