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Contracts in the NEC3 family use the term 'low service damages' (optional clause X.17) and generally include a Low Service Damages Schedule. [ 10 ] Contracts under common law require there to have been some attempt to create an equal or reasonably proportionate quota between the damages made and the actual loss.
The concept of deprivation and enrichment are extremely broad. Deprivation refers to any loss of money or money's worth in the form of contribution while A is enriched if B contributes to the acquisition of assets in A's name. [30] The causal connection between enrichment and deprivation must be "substantial and direct". [30]
However, in undue influence cases, parties have been allowed to rescind contracts where precise restitution is not possible, but the courts can obtain a result which is "practically just", [32] usually by payment of a money equivalent. Delay. The victim of undue influence must "seek relief within a reasonable time after the removal of the ...
Loan agreements offered by regulated banks are different from those that are offered by finance companies in that banks receive a "banking charter" granted as a privilege and involving the "public trust". Loan agreements are usually in written form, but there is no legal reason why a loan agreement cannot be a purely oral contract (although ...
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Credit card companies in some countries have been accused by consumer organizations of lending at usurious interest rates and making money out of frivolous "extra charges". [ 11 ] Abuses can also take place in the form of the customer defrauding the lender by borrowing without intending to repay the loan.
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The document used by lenders to obtain a lien on real property is a mortgage or deed of trust. The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial ...