100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
LEB 320F - Unit 3 Exam Questions with 100% Correct Answers | Latest Update $8.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. LEB 320F
  4.  
  5. LEB 320F

Exam (elaborations)

LEB 320F - Unit 3 Exam Questions with 100% Correct Answers | Latest Update
 1 view  0 purchase
  • Course
  • LEB 320F
  • Institution
  • LEB 320F

LEB 320F - Unit 3 Exam Questions with 100% Correct Answers | Latest Update When is a contract illegal? - -Contrary to that state's statutes -contrary to the public policy of that state's public policy, as defined by its courts Licensing Statutes - all states have licensing statutes, requiring ...

[Show more]

Preview 2 out of 9  pages

Document information

  • December 14, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • LEB 320F
  • LEB 320F

Seller

avatar-seller
JOSHCLAY

Reviews received

Content preview

LEB 320F - Unit 3 Exam Questions with

100% Correct Answers | Latest Update


When is a contract illegal? - ✔✔-Contrary to that state's statutes

-contrary to the public policy of that state's public policy, as defined by its

courts

Licensing Statutes - ✔✔all states have licensing statutes, requiring the

persons who engage in certain professions, taxes, or businesses to be

licensed

Can an unlicensed person recover for services rendered under contract? -

✔✔-Most courts take the view that if a statute is regulatory (purpose being

that it protects the general public against unqualified persons) then the

contract is ILLEGAL and the recovery is DENIED

-HOWEVER... If the statute is felt to be merely revenue raising, recovery is

allowed

Contracts in restraint of Trade - ✔✔many contracts that unreasonably

restrain trade or competition in interstate commerce are in violation of one

or more federal antitrust statutes (example: Sherman Clayton Acts)

1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

, Covenants Not to Compete (non competition agreements) - ✔✔agreements

in which one party promises not to compete with another



Lawful IF conditions are met:

-ancillary nature

-legitimate business interest that warrants temporary protection from

competition

-must be reasonably necessary to protect the promisee's legitimate interest

Ancillary Requirement - ✔✔one that is a subsidiary or auxiliary part of a

larger agreement

Contract for calling Sale of Business - ✔✔1) contract contains a promise by

the seller of the business not to engage in the same type of business within

a prescribed geographical area for a certain length of time after the sale



2) The interest to be protected (when a business is sold) relates to the

goodwill of the business - If seller is to violate promise, purchaser of the

business is entitled to an injunction against him




2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller JOSHCLAY. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

51292 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$8.49
  • (0)
Add to cart
Added