BLW 202 Lecture Notes - Lecture 5: Usury, Making Money
Document Summary
Chapter 13: illegal bargains you cannot sue if the contract you entered into was not lawful empiri directo. Violations of statutes if you enter a contract that violates a statute you cannot sue. Licensing statute (regulatory v. revenue) revenue statute: on the books for the purpose of making money. Usury statute if a lender offers an interest rate higher than the set rate and is sued, he will not be able to keep the interest collected. Unconscionable contracts parties is not dealing with each other at arms length one party is much more sophisticated than the other. Affect of illegality courts leave you as they found you. Chapter 14: never enter into a contract with a minor said to be voidable. Dissaffirmance anytime during his minority or after a reasonable period of time after having reached his maturity may not disaffirm real estate contracts until after reaching maturity.
