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A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
The phrase "contract of adhesion" describes a contract between parties of greatly unequal bargaining power, such that the dominant party could impose a "take it or leave it" demand on the weaker party. He argued that in such situations Eighteenth or Nineteenth Century concepts of freedom of contract were unrealistic and should be discarded.
Insurance contracts are generally considered contracts of adhesion because the insurer draws up the contract and the insured has little or no ability to make material changes to it. This is interpreted to mean that the insurer bears the burden if there is any ambiguity in any terms of the contract.
This page was last edited on 31 October 2015, at 17:53 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The two other prerequisites for an exculpatory clause to be valid are that the contract must pertain to the involved parties' private affairs, and each of the involved parties must be free bargaining agents to the contract in question such that there is no adhesion. [3]
The classic example of an adhesion contract, the one given to me by an actual lawyer when I asked what the term meant, is the ticket you get from a parking garage that has legalese printed on the back. This is the classic "take it or leave it" contract that you implicitly sign by accepting; maybe it should go into the article as an explanation.