Where a person owes a pre-existing legal and equitable obligation to procure a third party's release from a mortgage, and bargains for a contractual promise from the mortgagee to grant that release, the benefit of that promise is held on trust for the third party, who may enforce it despite not being a party to the contract. A refinancing mortgage that does not materially worsen the borrower's position (where the alternative is loss of the home under an existing defaulting mortgage) is unlikely to be found unjust under the Contracts Review Act, particularly where the lender required independent legal advice.
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