Question 1

An agreement that unreasonably restrains trade is illegal and void on the ground that it is contrary to public policy.

Accepted Answer

A) True 
 B)False

Question 2

An agreement to restrain trade may be void on the grounds that it is:

Accepted Answer

A)   fraudulent.
B)   contrary to public policy.
C)   illegal lobbying.
D)   unfair to merchants.

Question 3

When a nationally-known neurosurgeon in Chicago, Illinois sells her practice, the contract may specify that the seller will not practice within a 100-mile radius of Chicago for one year.

Accepted Answer

A) True 
 B)False

Question 4

Agreements that are contrary to public policy are binding but voidable.

Accepted Answer

A) True 
 B)False

Question 5

A take-it-or-leave-it contract of adhesion is an example of substantive unconscionability.

Accepted Answer

A) True 
 B)False

Question 6

All of the following are types of contracts that might be unenforceable as contrary to public policy except:

Accepted Answer

A)   a contract that is contrary to the protection of the public welfare, health, or safety
B)   a contract that is contrary to the protection of the person
C)   a contract that is contrary to the protection of recognized social institutions
D)   a contract that does not harm the public good

Question 7

In an employment contract, agreements not to compete are:

Accepted Answer

A)   illegal
B)   uniformly held to be in the public interest and therefore legal
C)   valid only if the restriction protects the employee
D)   valid, if the restriction is reasonable and necessary for the protection of the former employer

Question 8

Sam Wilson often goes to the horse races, participates in his state's lottery, and invests heavily in the stock of major U.S. companies. At work, Wilson is approached by his coworkers and asked to participate in a football pool. "It's totally based upon skill," his friends claim. In addition, Wilson's philanthropic club is holding a raffle in which an individual could win a new car. Are these activities gambling and therefore illegal activities?

Accepted Answer

Events sanctioned by the federal and sta...

Question 9

Participation in a free raffle without consideration is lawful, because there is no lottery.

Accepted Answer

A) True 
 B)False

Exam 15: Legality and Public Policy

All of the following are types of contracts that might be unenforceable as contrary to public policy except:

Correct Answer
verified

An agreement that unreasonably restrains trade is illegal and void on the ground that it is contrary to public policy.

Correct Answer
verified

In an employment contract, agreements not to compete are:

Correct Answer
verified

When a nationally-known neurosurgeon in Chicago, Illinois sells her practice, the contract may specify that the seller will not practice within a 100-mile radius of Chicago for one year.

Correct Answer
verified

Participation in a free raffle without consideration is lawful, because there is no lottery.

Correct Answer
verified

An agreement to restrain trade may be void on the grounds that it is:

Correct Answer
verified

A take-it-or-leave-it contract of adhesion is an example of substantive unconscionability.

Correct Answer
verified

Correct Answer
verified
Events sanctioned by the federal and sta...
View Answer

Agreements that are contrary to public policy are binding but voidable.

Correct Answer
verified

Exam 15: Legality and Public Policy

All of the following are types of contracts that might be unenforceable as contrary to public policy except:

Correct AnswerverifiedShow Answer

An agreement that unreasonably restrains trade is illegal and void on the ground that it is contrary to public policy.

Correct AnswerverifiedShow Answer

In an employment contract, agreements not to compete are:

Correct AnswerverifiedShow Answer

When a nationally-known neurosurgeon in Chicago, Illinois sells her practice, the contract may specify that the seller will not practice within a 100-mile radius of Chicago for one year.

Correct AnswerverifiedShow Answer

Participation in a free raffle without consideration is lawful, because there is no lottery.

Correct AnswerverifiedShow Answer

An agreement to restrain trade may be void on the grounds that it is:

Correct AnswerverifiedShow Answer

A take-it-or-leave-it contract of adhesion is an example of substantive unconscionability.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedEvents sanctioned by the federal and sta...View AnswerShow Answer

Agreements that are contrary to public policy are binding but voidable.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Events sanctioned by the federal and sta...
View Answer

Correct Answer
verified