BUSINESS ADMINISTRATION
BUSINESS LAW
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Detailed explanation-1: -In contract law, economic duress also called business compulsion, refers to one party’s improper or illegal conduct that causes the other party’s fear of economic hardship and the fear prevents the party from engaging in a commercial agreement with free will.
Detailed explanation-2: -Duress refers to the act of using threats or psychological pressure to force someone to behave in a way that is contrary to their wishes. In contract law, duress is used as a form of defense to a crime where the defendant uses threats to force the plaintiff to commit a crime that is against their wishes.
Detailed explanation-3: -A contract induced by physical duress-threat of bodily harm-is void; a contract induced by improper threats-another type of duress-is voidable. Voidable also are contracts induced by undue influence, where a weak will is overborne by a stronger one.