Session 8 - 12 Identify those contracts made illegal by...

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Session 8 Chapters 10 and 11 Consideration Legality Chapter 10 Outcomes 1. Explain the term consideration. 2. Describe the different types of detriment. 3. Identify the characteristics necessary for valid consideration 4. Define the term unconscionable. 5. Explain whether a promise not to sue can be consideration. 6. Explain how a charitable pledge can be consideration. 7. Outline the procedure that a debtor and creditor may use to settle a claim by means of accord and satisfaction. 8. Identify those agreements which may be enforceable by a court of law even though they lack consideration. 9. Explain the doctrine of promissory estoppel. 10. Relate those agreements which, on the surface, appear to have consideration, but which the courts refuse to enforce. Major Concepts Requirements of Consideration Types of Consideration Problems with Consideration Agreements Without Consideration Chapter 11 Outcomes 11. State the effect of illegality on a contract.
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Unformatted text preview: 12. Identify those contracts made illegal by statutory law. 13. Explain the rationale behind usury laws. 14. Identify those wagering agreements that may not be illegal under state law. 15. Explain the rules regarding licenses and illegality. 16. Describe when an agreement might be considered unconscionable. 17. Identify those statutes that make Sunday agreements illegal. 18. Explain the legal principle of public policy. 19. Enumerate the contracts made illegal by public policy. 20. Explain the consequences of illegal agreements. Major Concepts • Agreements to Engage in Unlawful Activity • Agreements Contrary to Public Policy • Consequences of Illegality Assignments 1. Read the chapters. 2. Review PowerPoint slides for Chapter 10 and Chapter 11 . 3. Review the Key Terms. 4. Complete any postings on the discussion board. 5. Complete midterm exam by deadline. 6. Complete quizzes for Chapter 10 and Chapter 11 by deadline....
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Session 8 - 12 Identify those contracts made illegal by...

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