A lender who lends a large sum to a borrower known to have no income, secured over the borrower's only asset, acts unconscionably even if the loan is amply secured. The adequacy of security is not an answer to unconscionability; rather, it demonstrates the unconscientious nature of the transaction. Where a mortgage is set aside as against one joint tenant, the unwarranted benefit to be repaid is measured by reference to that tenant's effective interest (50% for a joint tenant), not the full amount of the discharged obligation. The Yerkey v Jones doctrine requires the lender to have notice that the wife is a volunteer where the transaction is not a conventional guarantee.
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