Set Aside Guarantor Contract

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Summary

Amir entered into an unfixed and unlimited guarantor contract with Cityville Bank, believing it was for $60,000 for six months. If he was misled, he may have grounds to set aside the contract under unconscionable conduct (ACL) or misrepresentation (ASIC Act). Seeking professional legal advice is advisable. Chandlers Contract Concerns

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He was mislead
If Amir was misled, he may have grounds to set aside the contract. This could fall under:
- Unconscionable conduct (ACL)
- Misrepresentation (ASIC Act)
It's advisable for Amir to seek professional legal advice to explore these options further.
Chandler is a *-year-old retired businessman who is still engaged in several business and charitable activities that keep him happy and busy. He owns many assets including a cruiser boat. When Chandler retired three years ago, he employed Amanda to work for him on a casual basis. Amanda was employed in an administrative capacity and while she did not have any formal qualifications, she did have some experience as a personal assistant. Her main role was to assist Chandler in managing his financial and personal affairs. Chandler often utilised Amanda’s suggestions in managing his personal affairs. However, Chandler had noticed in recent times that when he decides against Amanda’s suggestions, she would become sulky because things have not gone her way. Although Chandler thought he might still use his cruiser boat at some point in the future, he sold it to Amanda for close to market value about four months ago. It was at one of his regular appointments with Ron, his long-time solicitor, that Chandler requested Ron to draft the contract for the sale of the cruiser boat to Amanda. Ron was surprised to hear Chandler’s request, and asked Chandler why he was selling his cruiser boat. Chandler told Ron that Amanda could get moody, which he found quite annoying. He knew selling Amanda the cruiser boat would lift her mood for a while, so that would make for a happier work environment. Chandler has now changed his mind and wants to give Amanda her money back in return for the cruiser boat. However, Amanda has sold the cruiser boat and used that money to buy shares in several companies listed on the Australian Stock Exchange. Provide an advice as to whether Chandler would be able to have the contract with Amanda (for the sale of the cruiser boat) set aside due to the vitiating factors of undue influence and/or unconscionable dealings.
Based on Queensland law, to set aside a contract due to undue influence or unconscionable dealings:
*. Undue influence - Chandler must demonstrate that Amanda had a dominant position over him and he was coerced into the contract.
*. Unconscionable dealings - Chandler must prove that Amanda exploited his vulnerability.
From the information provided, it's unclear if these conditions are met. Legal consultation is advised.
Can he claim emotional dependency
In Queensland, claiming emotional dependency in a legal context may be complex. It's not generally a standalone ground to set aside a contract. However, if Chandler can demonstrate that the emotional dependency led to undue influence or unconscionable conduct, it might be relevant. Legal advice should be sought.