Contracts: Law in Action - Unconscionability

Abstract

"Contracts: Law in Action" is rare, if not unique, among contracts casebooks. It is perhaps the only casebook devoted to a "law and society" approach to first-year contracts. A new, 4th edition will be released shortly.

We provide here an excerpt on the development of the law of unconscionability. We cover both roots in Williams v. Walker-Thomas and more recent branches, including the interplay between unconscionability doctrine and arbitration, payday lending, and the role of the Consumer Financial Protection Bureau. Students find these materials an engaging way to understand both normative challenges presented by consumer contracting at the economic margins, and institutional limits on addressing those challenges.

Keywords: Contracts, unconscionability, law and society, law in action, CFPB, consumer financial protection bureau, payday lending

JEL Classification: K22