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Answer :
The reality of consent in the guarantee agreement could be argued to be missing on the grounds that Mr and Mrs Lee did not have a good grasp of the English language, were elderly, and received no independent legal advice, resulting in their misunderstanding of the extent of their liability.
The likely status of the agreement would depend on the jurisdiction and applicable laws, but it could potentially be deemed void or unenforceable due to issues of undue influence, unconscionability, or lack of genuine consent.
Determine what would be the likely status of the agreement?
In this case, the argument could be made that Mr and Mrs Lee did not fully understand the terms and consequences of the guarantee agreement due to their limited English language skills, age, and lack of independent legal advice.
The law generally requires that parties entering into contracts have a genuine and informed consent, understanding the rights and obligations involved. If it can be shown that the Lees were misled or lacked the necessary comprehension, their consent may be considered flawed.
Depending on the jurisdiction, various legal doctrines could be invoked to challenge the enforceability of the guarantee agreement. These may include undue influence, which occurs when one party exerts excessive pressure on another to enter into a contract, and unconscionability, which refers to a contract that is unfair or oppressive.
In this case, the Lees' vulnerability and lack of understanding could be seen as factors contributing to the absence of a genuine consent.
The likely outcome of the agreement would depend on the specific facts, applicable laws, and the discretion of the court or relevant authority. In some cases, the agreement may be deemed void ab initio (from the beginning), meaning it is treated as though it never existed.
In other instances, the court may choose to modify or limit the scope of the guarantee to reflect what the Lees reasonably believed their liability to be, based on their understanding at the time of entering into the agreement.
To know more about jurisdiction, refer here:
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