The doctrine of economic duress has significantly developed and expanded, in recognition of the ever-increasing complexity of the business world. Claims of economic duress in business litigation are becoming more frequent. Several courts, including the United States Supreme Court, have acknowledged that there are situations under which financial pressure may cancel an otherwise enforceable contract. See 13 S. Williston, Contracts , § 1603 at 664 (3d ed. 1970); United States v. Bethlehem Steel Corp. , 315 U.S. 289, 62 S.Ct. 581, 86 L.Ed . 855 (1942); Hartsville Oil Mill v. United States , 271 U.S. 43, 46 S.Ct. 389, 70 L.Ed. 822 (1926). The definition of economic duress is set forth in Williston: 1. The party alleging economic duress must show that he has been the victim of a wrongful or unlawful act or threat, and 2. Such act or threat must be one which deprives the victim of his unfettered will. [13 Williston, supra, § 1617 at 704 (footnotes omitted)] The courts in New Jersey ha...
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