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22 Cards in this Set
- Front
- Back
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A contract term that excuses one party from liability for that person's own negligence
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Exculpatory clause
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A typical restraint that usually accompanies the sale of a business
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An agreement (covenant) not to compete
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A standard form contract in which one party offers the other party a contract on, a "take it or leave it" basis
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Adhesion contract
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A statute that prohibits the sale of unregistered securities
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"Blue sky laws"
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A statute that historically protected a borrower of money from excessive interest charges on the loan
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Usury law
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A law commonly applied to the professions of law, medicine, and dentistry
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Licensing statute
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A form of gambling that, if permitted at all, is usually state regulated and operated
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lotteries
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Statutes that prohibit certain types of commercial activity on Sunday
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Blue Laws
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The rationale used by a court that may allow a statute to reach beyond its stated bounds
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"public policy"
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A contract of sale, the terms of which are unscrupulous, unprincipled, or unjust
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Unconscionable
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A license designed for the protection of the public against unqualified persons
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Regulatory license
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the type of restraint of trade that is enforceable
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Reasonable
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A court order prohibiting an employee from competing with her former employer in a described area for a given time
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Injunction
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The agreement managers are often required to sign restraining them from competing with ther employers during the time of their employment
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Employment contracts
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A license regarded as a taxing measure
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Revenue license
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The term "ILLEGAL BARGAIN" is directly equivalent to "illegal contract" T/F
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FALSE
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A bargain is "illegal" when its formation or performance is criminal or tortious or opposed to public policy T/F
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TRUE
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One who has practiced a trade in violation of a regulatory statute will normally be able to collect a fee for services T/F
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FALSE
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A revenue measure seeks to protect the public against the incompetent or unqualified practitioner T/F
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FALSE
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Normally, the courts have refused to recognize the enforcement of a gambling contract T/F
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TRUE
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At common law, a valid contract could be made on Sunday T/F
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TRUE
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A "usury law" will protect the borrower by providing for a minimum interest rate T/F
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TRUE
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