The failure to obtain a license required by a statute for revenue-raising purposes:
A) affects the legality of the unlicensed person's agreements and it will be considered void.
B) results in generally unenforceable contracts.
C) does not affect the legality of unlicensed persons' agreements.
D) automatically declares the contract void for the protection of the public.

Question

Quizplus · Accepted Answer

It is generally held that agreements by unlicensed persons to perform regulated services or engage in regulated businesses are illegal and therefore unenforceable. One major exception to this general rule that must be noted is the case of revenue raising statutes. The failure to obtain a license required by a statute whose sole purpose is to raise revenue does not affect the legality of unlicensed persons' agreements.

The Failure to Obtain a License Required by a Statute