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Contract of Adhesion
Contract of Adhesion

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!!! Overview
[{$pagename}] (a leonine contract, or a take-it-or-leave-it 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" position.
The proponents of those systems assert the expediency of scale in support of the rigidity of terms, but individuals are left with a situation where economic compulsion of their [dependency] on the service can undermine their leverage and hence their ability to protect their individual rights. Key aspects of this imbalance as reflected in large-standard contract settings include: [2]
* Lack of granularity: The less-empowered party [MUST] accept a totality of trust and liability, rather than a smaller apportionment.
* Absence of dynamism: The less-empowered party [MUST] accept the contract in its entirety at the inception of the relationship and can't change the parameters now or in future.
* No market choice: The less-empowered party is economically compelled to accept an offer due to limits on available alternatives.
* Inadequate [transparency]: The less-empowered party does not have the means to verify that the other party is acting as promised.
!! Statute of Frauds[3]
The statute of frauds refers to the requirement that certain kinds of [contracts] be memorialized in a writing, signed by the party to be charged, with sufficient content to evidence the contract
!! More Information
There might be more information for this subject on one of the following:
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* [#1] - [Standard_form_contract|Wikipedia:Standard_form_contract|target='_blank'] - based on information obtained 2016-08-26
* [#2] - [Report from the Blockchain and Smart Contracts Discussion Group to the Kantara Initiative|https://kantarainitiative.org/download/6828/?uid=d4c5db177a|target='_blank'] - based on information obtained 2018-02-24
* [#3] - [Statute_of_frauds|Wikipedia:Statute_of_frauds|target='_blank'] - based on information obtained 2016-08-26
This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop