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15 Cards in this Set

  • Front
  • Back
General Rule
the courts will not enforce agreements declared illegal by statute
Regulatory License
measure to protect the public interest
Revenue License
measure to raise money
Illegal Bargaining is made unenforceable....
to discourage such undesirable conduct in the future and to avoid the innappropriate use of judicial process in carrying out the socially undesirable bargain
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
usury statute
law establishing a maximum rate of interest
for a transaction to be usurious....
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
sunday statutes
prohibtion of certain types of commercial activity on sunday aka BLUE LAWS
restraint of trade
agreement that eliminates competition
covenant not to compete
agreement to refrain from entering into a competing trade, profession or business
exculpatory clause
a provison excusing one party from fault or liability
corrupting public officials
contracts that corrupt public officials are not enforcable
procedural unconscionability
unfair or irregular bargaining
tortious conduct
an agreement that requires a person to commit a tort is unenforcable
neither party may recover under an illegal agreement where both parties are in equal fault (in pari delicto)