# Economic Duress Agreement
**AGREEMENT**
This Economic Duress Agreement ("Agreement") is entered into as of the ___ day of ____, 20__, by and between:
**Party A:** [Full Legal Name]
**Address:** [Address]
**Email:** [Email Address]
**Phone:** [Phone Number]
**Party B:** [Full Legal Name]
**Address:** [Address]
**Email:** [Email Address]
**Phone:** [Phone Number]
**Collectively referred to as the "Parties."**
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## RECITALS
WHEREAS, Party A has entered into certain financial pressures or coercive situations that have caused them to agree to terms they would not normally accept; and
WHEREAS, Party B, recognizing this situation, seeks to establish a fair and equitable agreement with Party A;
NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the Parties agree as follows:
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## 1. **Definitions**
1.1 "Economic Duress" refers to a situation in which one party is forced into an agreement under pressure from economic circumstances or threats, effectively voiding genuine consent.
1.2 "Contract Obligations" shall mean all duties, responsibilities, and performance under this Agreement.
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## 2. **Acknowledgment of Economic Duress**
2.1 The Parties acknowledge that Party A has experienced Economic Duress that has influenced their capacity to negotiate and accept the terms outlined in this Agreement.
2.2 The Parties agree that the terms of this Agreement are intended to mitigate the impact of such Economic Duress and reflect a more equitable understanding.
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## 3. **Terms of Agreement**
3.1 **Consideration**
This Agreement is based on the following considerations:
- [Define the consideration being provided by Party B, e.g., financial support, services, etc.]
3.2 **Obligations of Party A**
Party A agrees to:
- [List all obligations, e.g., repayment terms, service deliverables, etc.]
3.3 **Obligations of Party B**
Party B agrees to:
- [List all obligations, e.g., payment terms, timing, etc.]
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## 4. **Release of Liability**
4.1 The Parties agree to release each other from any claims related to the circumstances leading to this Agreement, as long as the obligations outlined herein are fulfilled.
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## 5. **Governing Law**
5.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
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## 6. **Dispute Resolution**
6.1 Any disputes arising from this Agreement will first be attempted to be resolved through mediation, conducted in [City, State].
6.2 If mediation fails, the Parties may pursue arbitration in accordance with the rules of the American Arbitration Association.
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## 7. **Entire Agreement**
7.1 This Agreement constitutes the entire agreement between the Parties regarding the subject matter hereof and supersedes all prior discussions, agreements, or understandings of any kind.
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## 8. **Amendments**
8.1 This Agreement may not be amended except in writing signed by both Parties.
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## 9. **Signatures**
IN WITNESS WHEREOF, the Parties have executed this Economic Duress Agreement as of the day and year first above written.
**Party A:**
_________________________
[Name]
Date: ____________________
**Party B:**
_________________________
[Name]
Date: ____________________
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*Note: Each Party is advised to consult with a legal professional to ensure this Agreement meets applicable laws and adequately protects their interests.*