Extortionate credit transactions: constituted when terms impose exorbitant payments or are unconscionable under contract law. Extortionate credit transactions are those whose terms require the corporate person to make exorbitant payments for the credit or are unconscionable under contract law principles; the test focuses on the substantive fairness of payment and contractual terms in the voluntary liquidation context.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Extortionate credit transactions: constituted when terms impose exorbitant payments or are unconscionable under contract law.
Extortionate credit transactions are those whose terms require the corporate person to make exorbitant payments for the credit or are unconscionable under contract law principles; the test focuses on the substantive fairness of payment and contractual terms in the voluntary liquidation context.
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