106883402 76160156 UST GN 2011 Legal and Judicial Ethics Proper Index 2
CHAPTER 10 Legal Purpose and Proper Form
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Transcript of CHAPTER 10 Legal Purpose and Proper Form
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Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
CHAPTER 10Legal Purpose and Proper Form
10-1 Illegal Agreements
10-2 The Statute of Frauds
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Chapter 10Slide 2
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
10-110-1 Illegal Agreements
GOALS Identify various forms of illegal
agreements Distinguish agreements that, although
illegal, the courts will enforce
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Chapter 10Slide 3
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
Identify types of contracts that society, through its courts of law, should not enforce even though all the essential elements for an enforceable contract are present.
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Chapter 10Slide 4
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
WHICH AGREEMENTS ARE ILLEGAL?
Illegal lotteries Agreements to pay usurious interest Agreements involving illegal discrimination Agreements that obstruct legal procedures Agreements made without a required
competency license Agreements that affect marriage negatively
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Chapter 10Slide 5
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
WHICH AGREEMENTS ARE ILLEGAL?
Agreements that restrain trade unreasonably Price fixing Resale price maintenance Allocation of markets Agreements not to compete
(continued)
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Chapter 10Slide 6
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Name four of the eight illegal agreements discussed in this section.
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Chapter 10Slide 7
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
WHEN WILL THE COURTS ENFORCE ILLEGAL AGREEMENTS?
Protected victims The excusably ignorant Rescission prior to illegal act Divisible contracts
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Chapter 10Slide 8
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Under what circumstances will the courts enforce illegal agreements?
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Chapter 10Slide 9
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
10-210-2 The Statute of Frauds
GOALS Explain why the Statute of Frauds is
necessary and what it requires Identify the main instances when the
Statute of Frauds requires a writing Understand the rules of contract
interpretation
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Chapter 10Slide 10
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
Must all contracts be in writing?
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Chapter 10Slide 11
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
WHY HAVE A STATUTE OF FRAUDS?
Contracts within the Statute of Frauds Executed contracts Executory contracts
Requirements of the writing Statute of Frauds requirements UCC requirements Special rules for signatures
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Chapter 10Slide 12
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Name the six essential elements in a writing required by the most demanding Statutes of Frauds standards.
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Chapter 10Slide 13
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
TYPES OF CONTRACTS WITHIN THE STATUTE OF FRAUDS
Contract for the sale of goods for $500 or more
Contract to sell an interest in real property
Contracts that require more than one year to complete
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Chapter 10Slide 14
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
TYPES OF CONTRACTS WITHIN THE STATUTE OF FRAUDS
Contract to pay a debt or answer for another’s debt Exception—main purpose rule
Contract for which the consideration is marriage
(continued)
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Chapter 10Slide 15
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Name the five types of executory contracts that require a writing.
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Chapter 10Slide 16
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
HOW ARE CONTRACTS INTERPRETED?
Integration clause Specific rules of interpretation
Analysis Conflicting terms Words Authors of ambiguity Implied reasonableness
Parol evidence rule Exception to the parol evidence rule
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Chapter 10Slide 17
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Explain the parol evidence rule.