Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
blue laws
|
state statutes and local ordinances that regulate the creation and performance of certain types of contracts on sundays and legal holidays
|
|
|
sunday agreement
|
a contract made on a sunday; in a small number of jurisdictions, such contracts are invalid unless they are ratified on a weekday
|
|
|
gambling agreement
|
an agreement in which performance by one party depends on the occurrence of an uncertain event
|
|
|
usury
|
charging interest higher than the law permits
|
|
|
unlicensed transaction
|
an agreement with a person who does hot have a required license
|
|
|
champerty
|
an agreement to encourage a lawsuit in which one or more of the parties have no legitimate interest
|
|
|
exculpatory clause
|
a statement in a contract that releases one party from liability resulting from his or her own negligence throughout the performance of a contract
|
|
|
restraint of trade
|
a limitation on the full exercise of doing business with others
|
|
|
monopoly power
|
a situation in which one of more people or firms control the market in a particular area or for a particular product
|
|
|
sherman antitrust act
|
a federal statute that forbids certain agreements that tend to unreasonable inhibit competition, fix prices, allocate territories, or limit production
|
|
|
robinson-patman act
|
a federal statute that makes it unlawful to discriminate, directly or indirectly, in matter involving product pricing, advertising, and promotion
|
|
|
government-granted franchise
|
a legal monopoly in which a state or federal government grants a person or firm a license to conduct a specific business, usually an essential service
|
|
|
franchisor
|
the parent firm in a franchise agreement
|
|
|
franchisee
|
the independent company in a franchise agreement
|
