Capacity
Contracts made by an adjudicated mentally incompetent person is considered
What is Void
The law where you normally can't engage in business activities on Sunday is called
A contract clause that releases one party from all liability
What is Exculpatory Clause
If a Minor has an adult take responsibility if the Minor backs out of a contract, can it be accepted?
Yes its allowed
If you work without a license you have to
What is Pay a fine
This group of people lack the capacity to enter into a contract but can enter one if backed up by adult.
What is a Minor
A contract that involves commiting a crime
What is Void
A contract that's so one-sided that the courts are shocked by the conscience is called
What is Unconscionability
If someone under the age of majority signs a contract for a car but then wants to cancel it, can they?
Yes, because Minors can disaffirm contracts
Who are exceptions to Usury laws
A contract made by a Minor is considered
What is Voidable
Courts cannot enforce this contract if it goes against this
What is public policy
This contract restricts the employee from a set period/place after employment ends
What is Covenant not to Compete
If someone makes a deal to steal jewelry from the Louvre as long as the party pays them for it, is that enforceable?
No, it's illegal and void
What is an exception to the Gambling Laws
What is Horse Tracks/Native land/Lotteries
If a person is intoxicated to the point where they don't get the terms being agreed to the contract is
What is Voidable
A gambling contract in most states is known as
What is Illegal/Void
What two things must be limited in Covenant not to Compete
What is Time and Geographic area in a reasonable way
If a judge finds out a contract will cause harm to the public, what will be the outcome?
They can refuse to enforce it and void it for public policy
What are exceptions to Blue Laws
What is charity work
If a Minor reaches the age of majority and accepts a contract verbally or nonverbally, this act closes the contract.
What is Ratification
If one party is more at fault for an illegal agreement, courts usually
What is leave them with no recovery
This type of Contract can be split into many independent promises
What is severable contract
If a Minor lies about their age in a contract, can they still void it?
Possibly yes, but they may owe restitution or be limited depending the state laws
When could one be excempted from an illegal contract
What is Procedural unconscionability