CHAPTER 17: ILLEGALITY AND PUBLIC POLICY. Learning Objectives: Status of Illegal Contracts Agreements in Violation of Statutes Agreements in Violation.

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Presentation transcript:

CHAPTER 17: ILLEGALITY AND PUBLIC POLICY

Learning Objectives: Status of Illegal Contracts Agreements in Violation of Statutes Agreements in Violation of Public Policy Chapter 172 CHAPTER 17: ILLEGALITY AND PUBLIC POLICY

General Rule: Courts will not provide a remedy if the contract is illegal; parties are left where they are found. Chapter 173 STATUS OF ILLEGAL CONTRACTS

Exceptions: –Party is within group to be protected. –Contract induced by fraud or duress. –If party to illegal contract changes their mind. Chapter 174 STATUS OF ILLEGAL CONTRACTS

1.License Requirements 2.Usury Laws 3.Agreements and Activities in Restraint of Trade a.Sherman Act Tests: Per se unreasonable and rule of reason b.Horizontal vs. Vertical c.Examples Chapter 175 AGREEMENTS IN VIOLATION OF STATUTES

1.Agreements Not to Compete 2.Unconscionability 3.Contracts of Adhesion 4.Contracts Disclaiming Liability 5.Tickets Disclaiming Liability Chapter 176 AGREEMENTS IN VIOLATION OF PUBLIC POLICY

CHAPTER 17: ILLEGALITY AND PUBLIC POLICY

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