Economic duress frustrates lessors' equipment recovery

Equipment Leasing Today | October 1, 1998| | Copyright

Choosing "lesser harm" a New

Jersey court accepts a lessee's

economic duress argument.

New Jersey courts will not enforce an agreement signed under economic duress, which the state Supreme Court defines as "not so much the means by which the party was compelled to execute the contract, as it is the state of mind induced by the means employed-- the fear which made it impossible for him to exercise his own free will."

In the recent case of Cargill Leasing Corporation v. Mark Woitscheck and Steven Woitscheck, Cargill sought a preliminary injunction to remove equipment it had leased to Hi-Way ...

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