Textbook Notes (368,456)
United States (206,050)
BUL 3320 (2)
Brown (2)
Chapter 13-15

Summaries of Ch. 13-15 notes.docx

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Business Law
BUL 3320

Ch.13 General rule- the court will not enforce a rule/agreement if it is illegal Violation of statutes Licensing Statutes Regulatory license – protects public against unqualified persons (lawyer practicing w/o passing he BAR) person cannot recover for services they have performed Any contract in which they enter into is unenforceable (you aren’t bound to pay even if the person has performed a service for you) Revenue License – Doesn’t require you to say I am qualified It is less like a license and more like a fine person can recover for services they have performed Gambling statutes - Usury statutes – max rate( interest and fees) that can be charged on a loan ( national law ) Violation of Public Policy Employment Contracts Noncompetition agreements can sometimes prevent you from working at another company (old jobs competitors company) - Is allowed if it is a uniformed policy (need to be aware of what you are signing) - New employer needs to know that you signed ( because they can be sued along w/ you) Sale of Business – a promise by a seller of a business not to compete in that particular business not to compete in that particular business in a reasonable geographic area for a reasonable period of time This is enforceable Exculpatory Clause – that waiver saying (before anything has happened to you) people have been hurt before we are letting you know so don’t sue Unconscionable contracts- ( in the eye of the beholder) – unfair/unduly harsh agreements are not enforceable If a single provision is unconscionable then the contract may still fly This is very rare Tortious Conduct – agreement w/ someone to break someone’s knees you can’t sue them if they didn’t do it right Corrupting Public Officials – agreements that corrupt puble officials are not enforceable Unenforceable exceptions - Party protected by statute - Party not equally at fault - Partial illegality Ch.14 Minors – persons who are under the age of majority (18 yrs in most states) Liability on Contract – a minor’s contracts are voidable at the minor’s option. Adults contract however not Disffirmance – up to the age of 18 / shortly after can void the contract and are sometimes allowed to keep product Ratification – adult saying that they want to keep contract Liability for necessaries – a minor is liable for necessaries ( *clothes, food, and shelter) - The court will enforce contract but may not get all money owed Liability for misrepresentation of Age – Fake I.D. and can still void a contract Incompetent(mental incapacity i.e. alztimers) & Intoxicated Persons Persons under Guardianship – person placed under guardianship by court order - Any agreement the person enters into is voided automatically Metal Illness/Defect – person who is unable to understand the nature of their actions Intoxicated persons – contract entered into by an intoxicated/impaired (doesn’t mean just alcohol) person CH.15 Contracts Commonly Covered by the statute of Frauds Rule – contracts that are covered by the statute of fraud must be made/confirmed in writing to be enforced (e-mail) *Suretyship Provision – applies to promises to pay the debt of others Executor-Administrator Provision – all I need to know which of these are not in the list Marriage Provision – applies to promises made in consideration of marriage but not to mutual promises to marry. (Property exchanges that are a part of a marriage) Prenuptial agreement *Land Contract Provision – Applies to promises to transfer any rights, privileges, powers,/immunities in real property * One-Year Provision – contracts that cannot
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