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Foundational Principles of Contract Law$
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Melvin A. Eisenberg

Print publication date: 2018

Print ISBN-13: 9780199731404

Published to Oxford Scholarship Online: October 2018

DOI: 10.1093/oso/9780199731404.001.0001

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The Unconscionability Principle

The Unconscionability Principle

Chapter:
(p.69) Seven The Unconscionability Principle
Source:
Foundational Principles of Contract Law
Author(s):

Melvin A. Eisenberg

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199731404.003.0007

Chapter 7 concerns one of the most important developments in modern contract law: the emergence of the principle that an unconscionable contract is unenforceable. Two elements should figure in the determination whether a contract is unconscionable. The first element is the nature of the market on which the contract was made: contracts made on competitive markets are seldom unconscionable, but when contracts are made off-market or on noncompetitive markets the stage is set for unconscionability. The second element is whether the contract involved moral fault: regardless of the nature of the market on which a contract is made, a contract is not unconscionable without that element.

Keywords:   unconscionability, unconscionable, competitive markets, noncompetitive markets, off-market, moral fault

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