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15 Cards in this Set
- Front
- Back
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General Rule
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the courts will not enforce agreements declared illegal by statute
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Regulatory License
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measure to protect the public interest
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Revenue License
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measure to raise money
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Illegal Bargaining is made unenforceable....
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to discourage such undesirable conduct in the future and to avoid the innappropriate use of judicial process in carrying out the socially undesirable bargain
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Wager
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agreement that one party will win and the other lose depending on the outcome of an event in whcih their only interest is the possible gain or loss
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usury statute
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law establishing a maximum rate of interest
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for a transaction to be usurious....
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there must be evidence of a loan, money, money that is repayable in all events, for which an interest charge is exacted in excess of the interest rate allowed by law
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sunday statutes
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prohibtion of certain types of commercial activity on sunday aka BLUE LAWS
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restraint of trade
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agreement that eliminates competition
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covenant not to compete
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agreement to refrain from entering into a competing trade, profession or business
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exculpatory clause
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a provison excusing one party from fault or liability
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corrupting public officials
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contracts that corrupt public officials are not enforcable
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procedural unconscionability
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unfair or irregular bargaining
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tortious conduct
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an agreement that requires a person to commit a tort is unenforcable
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unenforceability
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neither party may recover under an illegal agreement where both parties are in equal fault (in pari delicto)
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