FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 13: Illegal Bargains

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

Essay

Review LaterAdd Note

Review Later

Courts usually will require evidence for a transaction to be usurious. What factors will the courts require as evidence of usury?

Correct Answer

verified

For a transaction to be usurious, courts...

View Answer

Show Answer

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

If a court finds a contract unconscionable:

A) the court may refuse to enforce only the unconscionable part.
B) it must, in all states, be found both substantively and procedurally unconscionable to be unenforceable.
C) the court must refuse to enforce the contract.
D) the contract must fall strictly within the Code's or the Restatement's definition of "unconscionable" to be unenforceable.

Correct Answer

verified

Show Answer

Question 3

Multiple Choice

Review LaterAdd Note

Archie bets his friend Jerry $100 that the Packers will win the next Super Bowl. This is an:

Carl and Ron both work in road construction. They know that two major jobs are going to be up for public bids, and agree between themselves that Carl will bid on one job and Ron will bid on the other, so that they both have work for the summer. When the bids are opened, Carl realizes that Ron has bid on both jobs. Ron is awarded both contracts. If Carl now wants to sue Ron for breach of contract:

Rorzex, Inc. entered into a contract with Denzil under the terms of which Denzil would receive $20,000 if he stole trade secrets from the leading competitor of Rorzex. Denzil performed his end of the agreement by delivering the trade secrets. Rorzex now refuses to pay Denzil for his services. Denzil:

Bill is currently enrolled in law school. He expects to graduate and take the bar exam in order to be able to practice law. Before Bill becomes a lawyer, he promises to represent his friend, Tom, in a breach of contract action if Tom will pay him 25% of the settlement. Bill negotiates and the case settles for $50,000. Tom refuses to pay Bill. Bill then graduates and attempts to sue Tom. Bill has a legal right to enforce the agreement.

Divided Parcel (DP) includes the following on its mailing receipts: "We are not responsible for any damages to packages whether or not through the intentional or reckless fault or negligence of our employees. Send packages at your own risk." Mary reads this clause but sends her watch back to the manufacturer to be repaired anyway. The watch is destroyed when the DP driver uses the package for a ball and tosses it to his buddy. Mary is:

The courts readily enforce a covenant not to compete during the period of employment.

The legal effect of a usurious loan varies from state to state.

A contract that requires a person to commit a tort will be enforced by the courts.

Delbert won a $500 bet with Samuel on the outcome of the World Series, but Samuel refuses to pay. Discuss what recourse Delbert has. If Delbert had instead bought a ticket from a state-operated lottery, would his recourse be different?

Which of the following is NOT true with regard to an exculpatory clause?

An agreement to refrain from a particular trade, profession, or business is enforceable if:

The law does not provide a remedy for the breach of an unenforceable agreement.

Nell gives Big Al $50 in return for Al's promise to defame Sara. Nell hopes to ruin Sara's chances at a promotion. Nell finds out that Al did not hold up his end of the agreement. Which of the following statements is true?

Rose is working hard on Arlin's mayoral campaign. She thinks that just a few more votes could win the election, so she promises to pay her friend Violet $50 if she will register and vote for Arlin. Violet does so, but Arlin loses the election, and Rose now refuses to pay. Rose's agreement to pay Violet:

A(n) __________ is a measure designed to protect the public from unqualified practitioners.

Abner operates a small repair business and is in desperate need of a certain type of building material. He obtains the material from a large corporation, but is charged a grossly unreasonable price and is forced to buy other material he does not need. In view of the buyer's unequal bargaining power and unreasonable terms of the contract, this may be a case of:

Who usually enters into employment contracts and what provision is commonly included regarding possible restraint of trade? Explain the purpose of such provisions.

An agreement in connection with the sale of a business that prohibits the seller from engaging in the same or similar business for a period of twenty-five years would be unreasonable and unenforceable.