Class Notes (811,170)
United States (314,506)
BLW 202 (6)
Staruck (6)
Lecture 5

BLW 202 Lecture 5: 4:25:2017

2 Pages
Unlock Document

DePaul University
Business Law
BLW 202

4/25/2017 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 ○ Gambling Statute ○ Sunday Statute ○ 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 ● Public Policy Violations ○ Restraint of Trade ◆ Sale of business ◆ Employment Contracts ○ Exculpatory Clauses ○ 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 ● Exceptions ○ party is not equally at fault ○ if the contract you enter into is partially legal and partially illegal then courts will only enforce the legal portion ○ excusable ignorance ○ sometimes a party that enters into a illegal bargain sometimes you are protected by a statute Chapter 14: Never enter into a contract with a minor→ said to be voidable ● Exceptions ○ necessaries→ item a minor needs to sustain his position in life (whatʼs a necessary for one may not be a necessary fo
More Less

Related notes for BLW 202

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.