BLAW CHAPTER 13

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Author:
abifulco
ID:
13639
Filename:
BLAW CHAPTER 13
Updated:
2010-04-08 21:12:13
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BLAW CHAPTER 13 VOCAB
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Description:
Chapter 13 blaw vocab/definitions
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  1. contracts against law (4)
    statutory law, federal law, can't break either law, usury statues
  2. usury statues
    depending on the transaction there is a certain maximum rate that can be charged
  3. Licensing Statues requires
    person to take a test to prove he has the skills to engage in that profession
  4. revenue raising license
    in order to engage in that activity they have to pay a business license tax
  5. covenant not to compete
    the employer may make you sign this, means that he will hire you and if you leave, then you will not compete with me within a certain distance of me
  6. sale of a business
    a large part of the sales is the reputation of the business, so you need an attorney to file a covenant to compete, so that the other person can't just turn around and open up another
  7. unconscionable contract
    contract that has an exculpatory clause, clause that releases a party from liability in the event of monetary or physical injury no matter who is at fault

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