New Zealand Credit Contracts and Consumer Finance Act 2003 117-131: Oppressive contracts and conduct: no oppressive terms, no oppressive exercise of rights and no unreasonable refusal of early termination, variation or waiver requests

What does 117-131 require?

A creditor, lessor or transferee must not enter into or enforce an oppressive credit contract, lease or buy-back (one that is harsh, unjustly burdensome, unconscionable, or outside reasonable standards of commercial practice), must not exercise a right or power under it in an oppressive manner, and must not unreasonably turn down a request for early termination, for a variation or for a waiver, because the court may reopen the contract on any of those grounds under sections 120 to 127, taking the section 124 guidelines into account, and may re-write terms, order repayments and grant the other relief section 127 allows; collateral contracts and linked transactions are reopened together.