Unconscionable is an adjective that means without a conscience; unscrupulous; so unfair or unjust that it shocks the conscience. The adjective is frequently used in the context of contract law for contracts that have grossly oppressive and unfair terms.
See: naked option.
[Last reviewed in July of 2024 by the Wex Definitions Team]
An undersecured debt is a debt secured by collateral with a lower value than the total amount of the claim.
To underwrite is to assume financial risk in exchange for a fee, typically by agreeing to cover potential losses or provide funding in certain transactions. The term applies across a range of financial sectors and generally refers to the process of evaluating, pricing, and assuming risk with the expectation of earning a return.
An underwriter is an institutional financial organization that assesses and assumes another party’s risk for a fee. Underwriters operate in the context of (1) securities offerings and (2) insurance.
Underwriting is the act of assuming a risk by insuring it, such as insuring life or property, or by agreeing to buy all or part of a new issuance of securities to be offered for public
An undisclosed principal is a person who authorizes an agent to act on their behalf without revealing their existence to the third party with whom the agent is dealing. This typically occurs when the agent either does not disclose that they are acting for another or claims to be acting on their own behalf.
In contract law, undue influence is a defense used to argue against the formation of a binding contract.
Unearned income is money received from sources other than employment or business activities, such as interest, dividends, capital gains, or any income not
