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16 Cards in this Set
- Front
- Back
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in pari delicto
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equaly guilty
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good faith
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absence of knowledge of any defects or problems
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public policy
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certain objectives realting to health, morals, and integrity of government that the law seeks to advance by declarting invalid any contract that conflicts with those objectives even though ther is no statute expressly declaring suc a contract illegal
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lottery
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any plan by which a consideratin is given for a chance to win a prize
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usury
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lending money at an interst rate that is higher than te maximum rate allowed by law
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Ab initio means what?
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never legal at all
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Agreements are void in what case?
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ab initio
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Courts will cut out illegal parts of contract if what?
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It does not completely destroy contract
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Can only make a Quasi-K if you have what?
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"clean hands" it was not a crime for you to enter contract
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what is in pari delecto
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guilty
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Unconcionability
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When certain types of contracts are not enforceable.
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Covenant not to compete is only allowed in what two places?
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Employment contract and sale of business
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Covenent not to compete is enforceable if reasonable in what?
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Scope
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What three things lie under Scope?
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Bredth, Time, Distance
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Usury agreements are considered when?
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In the case of only lending money.
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Time Price Differential is used when?
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In a situation where the cash price is different than the credit price
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