Exam 13: Illegal Bargains

The Uniform Commercial Code provides that a court may scrutinize every contract for the sale of goods to determine whether,in its commercial setting,purpose,and effect,the contract is:

(Multiple Choice)

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Question 61

A __________ is a law establishing a maximum rate of permissible interest for which a lender and borrower of money may contract.

(Multiple Choice)

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Question 62

An agreement in connection with the sale of a business that prohibits the seller from engaging in the same or similar business for a period of twenty-five years would be unreasonable and unenforceable.

(True/False)

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Question 63

An exculpatory clause attempts to excuse one from liability for her own tortious conduct.

(True/False)

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Question 64

A covenant not to compete is a type of restraint of trade that courts today will enforce under certain circumstances.

(True/False)

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Question 65

The Code and the Restatement both contain definitions of what constitutes "unconscionable" conduct.

(True/False)

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Question 66

Under which of the following circumstances would a court be unlikely to enforce the illegal contract?

(Multiple Choice)

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Question 67

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Exam 13: Illegal Bargains

The Uniform Commercial Code provides that a court may scrutinize every contract for the sale of goods to determine whether,in its commercial setting,purpose,and effect,the contract is:

A __________ is a law establishing a maximum rate of permissible interest for which a lender and borrower of money may contract.

An agreement in connection with the sale of a business that prohibits the seller from engaging in the same or similar business for a period of twenty-five years would be unreasonable and unenforceable.

An exculpatory clause attempts to excuse one from liability for her own tortious conduct.

A covenant not to compete is a type of restraint of trade that courts today will enforce under certain circumstances.

The Code and the Restatement both contain definitions of what constitutes "unconscionable" conduct.

Under which of the following circumstances would a court be unlikely to enforce the illegal contract?

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