business law chap 11 vocabulary

business law chap 11 vocabulary - interest Restraint of...

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Ben quach Business law vocab chap 11 Blue Laws- state statutes and local ordinances that regulate the creation and performance of certain types of contracts on Sundays and legal holidays. Sunday agreement- a contract made on a suday, in a small number of jurisdictions, such contracts are invalid unless they are ratified on a weekday. Gambling agreement- an agreement in which performance by one party depends on the occurrence of an uncertain event. Interest- the charge for using borrowed money, generally expressed as an annual percentage of the amount of the loan. Usury- charging interest higher than the law permits. Champerty-an agreement to encourage a lawsuit in which one or more of the parties hae no legitimate
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Unformatted text preview: interest. Restraint of trade – a limitation on the full exercise of doing business with others. Monopoly power- a situation in which one or more people or firms control the market in a particular areae or for a particular product. Sherman antitrust act- a federal statute that forbids certain agreements that tend to unreasonably inhibit competition, fix prices allocate territories, or limit production. . Franchisor – the parent firm in a franchise agreement. Franchisee-the independent company in a franchise agreement....
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This note was uploaded on 09/14/2011 for the course BUSI 2301 taught by Professor Jefferyhirt during the Spring '11 term at Lone Star College System.

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