When will an agreement made by one without a license fail to be a contract? When

Question

When will an agreement made by one without a license fail to be a contract? When will an agreement made by one without a license still result in a binding valid contract? What is meant by a "Covenant Not To Compete"? Under what two circumstances would a covenant not to compete be deemed legal? Under what two circumstances would an otherwise legal covenant not to compete be deemed contrary to public policy? If deemed contrary to public policy, how might the courts remedy the situation? If the law generally allows people to enter unfair contracts, explain the doctrine of unconscionability?

Explanation / Answer

Question

in Finance

Skip & Ge

Ans:

There are some reasons why license contract fails:

2. A contract is basically an agreement to do or not to do something. Saying a contract is valid means it's legally binding and enforceable. The point of a contract is to clearly outline an agreement so the "object" is accomplished while preventing disputes or litigation.

3. A covenant not to compete, or a non-compete clause, it is an agreement in which one party agrees not to work for the other party’s direct competition in a specified area for a certain amount of time. While a covenant not to compete is generally found in an employment contract, it can be found in contracts for the sale of a business as well.

4. In contract law an unconscionable contract is one that is unjust or extremely one side in favour of the person, who has superior bargaining power. An unconscionable contract is one that no person who is mentally competent would enter, and that no result from exploitation of consumer who is often poorly educated, and unable to find the best prices available in competitive market price. Unconscionable conduct is also found in acts of fraud and deceit, where the deliberate Misrepresentation of fact deprives some one of valuable possession.

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.