The financial encyclopedia uses cookies to improve your user experience. Find out more here!




Unconscionable bargains


The law in equity affords protection to poor and ignorant persons who are taken advantage of in an unconscionable way when they have no opportunity of taking or using competent advice. For instance, a person who buys valuable land from a poor and ignorant man for a song may find that the transaction is set aside in equity.

Reference: The Penguin Business Dictionary, 3rd edt.