Question 1

Statutes which regulate the amount of interest rates charged are usury laws.

Accepted Answer

Usury laws set a maximum limit on the interest rates that lenders can charge. Violating usury laws can result in legal penalties.

Question 2

A statute can regulate which of the following?&#10;A)Wagering&#10;B)Professional licensing&#10;C)All of the above&#10;D)None of the above

Accepted Answer

A statute can regulate both wagering and professional licensing, as well as a wide range of other topics, depending on the scope of the law.

Question 3

A doctrine that avoids illegality and injustice is&#10;A)divisibility.&#10;B)severability.&#10;C)unconscionability.&#10;D)avoidability.

Accepted Answer

A

Question 4

AU contracts made on Sundays are illegal.

Accepted Answer

In Australia, contracts made on Sundays are not illegal, but certain businesses may have restrictions on trading on Sundays.

Question 5

Contracts that violate public policy are void.

Accepted Answer

Contracts that are against public policy are considered void and cannot be enforced in a court of law. Examples of contracts that violate public policy include contracts for illegal activities or contracts that waive an individual's legal rights.

Question 6

Wagering statutes are illegal in all states.

Accepted Answer

Wagering statutes, also known as gambling laws, vary from state to state. Some states allow certain forms of gambling, while others prohibit it completely.

Question 7

Clauses that limit liability are exculpatory clauses.

Accepted Answer

Clauses that limit liability are indeed exculpatory clauses.

Question 8

A usury contract relates to which of the following?&#10;A)Interest rates&#10;B)Severability&#10;C)A policy&#10;D)None of the above

Accepted Answer

A usury contract relates to interest rates, specifically when the interest rate charged exceeds the legal limit set by state or federal law.

Question 9

Persons who are in pari delicto are not equally at fault.

Accepted Answer

"Pari delicto" is a Latin phrase meaning "in equal fault," implying that the parties involved are equally at fault or have participated in wrongdoing to the same degree.

Question 10

For a contract to be legal, it must have which of the following?&#10;A)Legal purpose&#10;B)Legal subject matter&#10;C)All of the above&#10;D)None of the above

Accepted Answer

For a contract to be legal, it must have both a legal purpose and legal subject matter. It cannot involve illegal activities or services. So, both choices A and B are correct.

Question 11

A method of removing an illegality is to divide a contract into two sections.

Accepted Answer

The answer of A method of removing an illegality is...

Question 12

A covenant not to compete only restricts the time period of compensation.

Accepted Answer

The answer of A covenant not to compete only restricts...

Question 13

Clauses that limit a party's liability are&#10;A)unconscionable.&#10;B)illegal.&#10;C)divisible.&#10;D)exculpatory.

Accepted Answer

The answer of Clauses that limit a party's liability are&#10;A)unconscionable.&#10;B)illegal.&#10;C)divisible.&#10;D)exculpatory....

Question 14

The doctrine of pari delicto means which of the following?&#10;A)A time to repent&#10;B)All at fault&#10;C)Equally at fault&#10;D)A part of fault

Accepted Answer

The answer of The doctrine of pari delicto means which...

Question 15

An illegal contract can be formed when a party violates a statute.

Accepted Answer

The answer of An illegal contract can be formed when...

Question 16

A covenant to compete can be used as which of the following?&#10;A)Incident to employment&#10;B)Incident to a sale of business&#10;C)All of the above&#10;D)None of the above

Accepted Answer

The answer of A covenant to compete can be used...

Question 17

Contracts can be illegal if they&#10;A)violate public policy.&#10;B)violate a statute.&#10;C)all of the above.&#10;D)none of the above.

Accepted Answer

The answer of Contracts can be illegal if they&#10;A)violate public...

Question 18

Blue laws prohibit the consummation of a contract on which day?&#10;A)Monday&#10;B)Sunday&#10;C)Wednesday&#10;D)Saturday

Accepted Answer

The answer of Blue laws prohibit the consummation of a...

Question 19

The limited exceptions to illegality include which of the following?&#10;A)Pari delicto&#10;B)Laws poenitentiae&#10;C)All of the above&#10;D)None of the above

Accepted Answer

The answer of The limited exceptions to illegality include which...

Question 20

A contract must have a legal purpose and legal subject matter.

Accepted Answer

The answer of A contract must have a legal purpose...

Question 21

Match between columns&#10;                        Premises: Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;Doctrine that sections contracts and removes illegal portions. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;A contract that sometimes violates public policy. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Statutes dealing with gaming, betting, or gambling. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;Clauses that limit a party's liability. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;A necessary element in a contract. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Statutes that regulate interest rates. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;Agreement relating to marriage. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A concept that evaluates a party's blameworthiness in a contract transaction. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;A contract that restricts competition. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures. &#10;The Blue laws that were passed by various legislatures.

Accepted Answer

The Answer of waging laws and surrogacy and restrictive covenant is...

Deck 7: Legality in Contracts