Most provincial jurisdictions in Canada have enacted legislation to provide a form of protection to consumers by setting unconscionability as a standard for the assessment of fairness of the bargain. What element of this legislation is most similar to elements addressed in separate, related consumer loan protection legislation?

Question

Quizplus · Accepted Answer

The element of the legislation related to unconscionability that is most similar to elements addressed in separate consumer loan protection legislation is that where the price grossly exceeded the price for similar, readily available goods or services. This is because, in consumer loan protection legislation, the legislation seeks to protect consumers from being charged excessive interest rates or fees on loans. Similarly, in assessing unconscionability, a court may consider whether the price of the goods or services was significantly higher than the price for similar goods or services readily available on the market. This ensures that consumers are not taken advantage of by businesses that charge exorbitant prices.

Most Provincial Jurisdictions in Canada Have Enacted Legislation to Provide