Chapter 13 - 1. What does public policy mean, as it applies...

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LSB 3213 – T. Urich 10 th Edition Chapter 13 – Capacity & Legality Concentrate on Legality - pages 264 to the end I. Capacity A. Minors B. Intoxication C. Mental Incompetence II. Legality A. Contracts contrary to statue 1. Usury 2. Gambling a. insurable interest 3. Sabbath Laws (Blue laws) 4. Licensing statues a. Underlying Purpose i. revenue raising ii. protect the public B. Contracts Contrary to Public Policy 1. Contracts in Restraint of Trade Moore v. Midwest Distribution, Inc . (2002) 2. Unconscionable Contracts 3. Exculpatory clauses a. Always unenforceable for activities that are “Important to the public interest.” b. Never apply to gross negligence or intentional acts 4. Discriminatory Contracts 5. Pre-nuptial agreements Study Questions – Chapter 13
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Unformatted text preview: 1. What does public policy mean, as it applies to the overturning of contracts? 2. Make an argument against the need for usury laws. 3. Should all exculpatory clauses be illegal? 4. Can an exculpatory clause be used to disclaim liability for intentional acts or gross negligence? 5. What factors does the court look at in determining whether an agreement not to compete should be enforceable? 6. When a person who is not properly licensed enters into a contract, the courts will enforce the contract on some occasions and not enforce it on others. What is the determinative factor on whether the court will enforce the contract?...
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