Bus Law
Terms
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- General Rule
- the courts will not enforce agreements declared illegal by statute
- Regulatory License
- measure to protect the public interest
- Revenue License
- measure to raise money
- Illegal Bargaining is made unenforceable....
- to discourage such undesirable conduct in the future and to avoid the innappropriate use of judicial process in carrying out the socially undesirable bargain
- Wager
- agreement that one party will win and the other lose depending on the outcome of an event in whcih their only interest is the possible gain or loss
- usury statute
- law establishing a maximum rate of interest
- for a transaction to be usurious....
- there must be evidence of a loan, money, money that is repayable in all events, for which an interest charge is exacted in excess of the interest rate allowed by law
- sunday statutes
- prohibtion of certain types of commercial activity on sunday aka BLUE LAWS
- restraint of trade
- agreement that eliminates competition
- covenant not to compete
- agreement to refrain from entering into a competing trade, profession or business
- exculpatory clause
- a provison excusing one party from fault or liability
- corrupting public officials
- contracts that corrupt public officials are not enforcable
- procedural unconscionability
- unfair or irregular bargaining
- tortious conduct
- an agreement that requires a person to commit a tort is unenforcable
- unenforceability
- neither party may recover under an illegal agreement where both parties are in equal fault (in pari delicto)