The BC Law Institute has released a report proposing the adoption of a Contract Fairness Act.
If adopted, the legislation will set out general tests for unconscionability, duress and undue influence; define ‘good faith’ and provide a framework for its application in the performance of a contract (where it could not be ousted by agreement); extend the scope of misrepresentation to include misstatements of law; clarify the application of misrepresentation to non-disclosure; and enhance remedies available to victims of misrepresentation.[Link available here].
