Chapter 10 - 1
I. Which Agreements Are Illegal? Nearpod - NYABP
A. Illegal Lotteries
B. Agreements to Pay Usurious Interest
C. Agreements Involving Illegal Discrimination
D. Agreements That Obstruct Legal Procedures
E. Agreements Made Without a Required Competency License
F. Agreements That Affect Marriage Negatively
G. Agreements That Restrain Trade Unreasonably
1. Price Fixing
2. Resale Price Maintenance
3. Allocation of Markets
H. Agreements Not to Compete
II. When Will the Courts Enforce Illegal Agreements?
A. Protected Victims
B. The Excusably Ignorant
C. Rescission Prior to Illegal Act
D. Divisible Contracts
Ch 10 - 2
LESSON 10-2 THE STATUTE OF FRAUDS Nearpod - EDKLG
I. Why Have a Statute of Frauds?
A. Contracts Within the Statute of Frauds
1. Executed Contracts
2. Executory Contracts
B. Requirements of the Writing
1. Statute of Frauds Requirements
(a) names of the parties
(b) subject matter description
(c) price
(d) quantity
(e) signature
(f) other essential terms
2. UCC Requirements
3. Special Rules for Signatures
II. Types of Contracts Within the Statute of Frauds
A. Contract for the Sale of Goods for $500 or more
B. Contract to Sell an Interest in Real Property
C. Contracts that Require More Than One Year to Complete
D. Contracts to Pay a Debt or Answer for Another’s Debt
1. Exception—Main Purpose Rule
E. Contract for Which the Consideration is Marriage
III. How Are Contracts Interpreted?
A. Acknowledgment of Final Agreement
B. Specific Rules of Interpretation
1. Analysis
2. Conflicting Terms
3. Words
4. Ambiguities
5. Implied Reasonableness
C. Parol Evidence Rule
1. Exception to the Parol Evidence Rule