■ Please show me some exanples of an onerous contract.
An onerous contract is a contract in which the terms are unbalanced and unfairly disadvantageous to one party. Here are a few examples:
A mobile phone contract in which the consumer is required to pay a large penalty fee for early termination, while the service provider can terminate the contract at any time without penalty.
A home rental contract in which the tenant is required to pay for all repairs and maintenance, including major structural repairs, while the landlord is responsible for none of these expenses.
A business loan contract in which the lender charges an extremely high interest rate and includes hidden fees and charges, making it difficult for the borrower to repay the loan.
An employment contract in which the employee is required to work long hours, without breaks or overtime pay, and is subjected to unreasonable working conditions, while the employer has few obligations or responsibilities.
In general, an onerous contract is one in which the terms are heavily weighted in favor of one party, often to the detriment of the other party.
No comments:
Post a Comment