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Glossary
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unilateral mistake
An act or omission arising from ignorance or misconception of a party to a contract, which may, depending upon its character or the circumstances surrounding it, justify repealing a contract. |
unconscionable contract
A contract that is so one-sided that it is oppressive and gives unfair advantage to one of the parties. |
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undue influence
The improper use of excessive pressure by the dominant member of a confidential relationship to convince the weaker party to enter a contract that greatly benefits the dominant party. |
Uniform Commercial Code (UCC)
A set of laws that govern various commercial transactions that is designed to bring uniformity to the laws of the states. |
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unlicensed transaction
An agreement with a person who does not have a required license. |
use tax
A tax to a consumer who use goods within a state, as opposed to buying them within the state. |
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usury
Charging interest higher then the law permits. |
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