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Legality of contract Chapter 11 Pages 168-172. Do now question: what could make a contract illegal? Case study found on page 169.

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Presentation on theme: "Legality of contract Chapter 11 Pages 168-172. Do now question: what could make a contract illegal? Case study found on page 169."— Presentation transcript:

1 Legality of contract Chapter 11 Pages

2 Do now question: what could make a contract illegal? Case study found on page 169

3 Do now: continued examples of illegal contracts – Invalid sellers license (Tabaco, alcohol) – Illegal gambling (any type of gambling without government regulation) – Agreements to pay usurious interest ( states have maximum interest rates, and have guild lines for amount of time ) – Agreements involving illegal discrimination EX) anyone who refuses to provide business to anyone or a certain race or ethnicity.

4 Agreements made without a requirement competency license In trades such as plumbing, barbers, and electrical workers, teachers, real estate, lawyers…..etc. – License are needed to preform – Without a proper license any contract with that specific party, that contract is not legal.

5 Agreements that obstruct legal procedures What can people do to alter the justice system to swing things in their favor? – Pay non-expert witness in a trail to testify, or pay for false testimony – Bribe jurors – Compounding a crime ( pay a party to not present evidence to prosecuting party.) – If caught doing any of these major jail time will be issued

6 Contracts that affect a marriage negatively If there is a contract that would effect a marriage negatively its illegal. – Ex) mimi is an illehal immagrantand bill is a legal u.s. citizen. It would be illegal contract if mimi pays bill 5000 in exchange for his promise to marry her so she could become a citizen.

7 Price fixing Price fixing is when a group of competitors come together to deliberately raise the price Crime under federal law Bid rigging is another type of price fixing

8 Resale price maintenance Manufactures may suggest a retail price but they cannot personally contact a business this would be price fixing

9 Allocation of markets Dividing a market has the same negative affects on competition as price fixing

10 questions All contracts that involve a illegal act are unenforceable? True or false? Contracts where one person pays another to commit a felony are unenforceable? True or false? Charging a interest rate that is higher than the law permits is called?


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