BUL3130 Chapter Notes - Chapter 13: Blue Law, Standard Form Contract, Unconscionability
Document Summary
In a wager, the parties contemplate gain through chance. Loan or forbearance of money which is repayable absolutely and in all events for which an interest charge is exacted in excess of the interest rate allowed by law. In a few states, lender forfeits both principal and interest. In some jurisdictions, lender can recover the principal but forfeits all interests: only a portion of interest exceeding the permitted maximum is forfeited, the amount forfeited is a multiple of the interest charge, sunday statutes. I(cid:374) the a(cid:271)se(cid:374)(cid:272)e of statuto(cid:396)(cid:455) p(cid:396)ohi(cid:271)itio(cid:374), (cid:272)o(cid:373)(cid:373)o(cid:374) la(cid:449) does(cid:374)(cid:859)t p(cid:396)ohi(cid:271)it e(cid:374)te(cid:396)i(cid:374)g i(cid:374)to (cid:272)o(cid:374)t(cid:396)a(cid:272)ts o(cid:374) Sunday: blue law prohibiting certain types of commercial activity on sunday. If a state that prohibits contracts on sunday, a court will enforce a subsequent weekday ratification of a loan made on sunday or promise to pay for goods sold and delivered on.
