a. State and local governments require licenses for certain businesses and professional activities. Explain the difference between a regulatory licensing statute and a licensing statute enacted to raise revenue.
b. Explain the significance in contract law between a regulatory license and a revenue raising license.
c. Give an example of each type of licensing statute.

Question

a. State and local governments require licenses for certain businesses and professional activities. Explain the difference between a regulatory licensing statute and a licensing statute enacted to raise revenue. 
b. Explain the significance in contract law between a regulatory license and a revenue raising license. 
c. Give an example of each type of licensing statute.

Quizplus · Accepted Answer

The Answer of a. State and local governments require licenses for certain businesses and professional activities. Explain the difference between a regulatory licensing statute and a licensing statute enacted to raise revenue. 
b. Explain the significance in contract law between a regulatory license and a revenue raising license. 
c. Give an example of each type of licensing statute.

A State and Local Governments Require Licenses for Certain Businesses