True, we are talking about civil law here.
The law assumes that adults in their right mind can contract agreements between themselves. There are some basic rules to creating contracts,and a number of requirements and exceptions (many of which you are familiar with, such as the capacity of the parties) but many business matters can be decided via contract by the parties and if the contract was appropriately made, most of the time it will stand.
Sometimes, agreements are voided as unconscionable, but that is a case-by-case deal. There is a phrase 'boilerplate' meaning those hundreds of pages of fine print prewritten which you are supposed to sign. Sometimes if the position of the parties is very unequal. signing a boilerplate contract can be held to be unconscionable.
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Originally Posted by Teatime
Signing away your right to sue somebody is often put into civil contracts, but that doesn't actually mean that you can't sue them if they fail to uphold their end of the bargain.
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In fact, it can mean exactly that. If you agree not to sue but instead to accept the binding decision of an arbitrator, you may have to accept that decision. Arbitration agreements between companies are often quite detailed, with time frames and language stating which party will pay for the arbitration, but they are agreements and many times that agreement will be honored. Many times in such detailed agreements there are detailed consequences of breach, liquidated damages and other clauses so the arbitrator is not arbitrary.
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Originally Posted by Dennis Hultman
If a judge feels that agreement wasn't fair and one party should be entitled to more, the contract gets voided. That never use to happen to the extent it does now.
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I think you right; it doesn't happen all the time but it does happen more than it used to. That might offer more flexibility, but at the cost of certainty.