Chapter 14(2)- Legality 1) When will an agreement made by one without a license

Question

Chapter 14(2)- Legality 1) When will an agreement made by one without a license fail to be a contract?
2) When will an agreement made by one without a license still result in a binding valid contract?
3) What is meant by a "Covenant Not To Compete"?
a) Under what two circumstances would a covenant not to compete be deemed legal? b) Under what two circumstances would an otherwise legal covenant not to compete be deemed contrary to public policy? c) If deemed contrary to public policy, how might the courts remedy the situation?
4) If the law generally allows people to enter unfair contracts, explain the doctrine of unconscionability? Chapter 14(2)- Legality 1) When will an agreement made by one without a license fail to be a contract?
2) When will an agreement made by one without a license still result in a binding valid contract?
3) What is meant by a "Covenant Not To Compete"?
a) Under what two circumstances would a covenant not to compete be deemed legal? b) Under what two circumstances would an otherwise legal covenant not to compete be deemed contrary to public policy? c) If deemed contrary to public policy, how might the courts remedy the situation?
4) If the law generally allows people to enter unfair contracts, explain the doctrine of unconscionability? Chapter 14(2)- Legality 1) When will an agreement made by one without a license fail to be a contract?
2) When will an agreement made by one without a license still result in a binding valid contract?
3) What is meant by a "Covenant Not To Compete"?
a) Under what two circumstances would a covenant not to compete be deemed legal? b) Under what two circumstances would an otherwise legal covenant not to compete be deemed contrary to public policy? c) If deemed contrary to public policy, how might the courts remedy the situation?
4) If the law generally allows people to enter unfair contracts, explain the doctrine of unconscionability? Chapter 14(2)- Legality 1) When will an agreement made by one without a license fail to be a contract?
2) When will an agreement made by one without a license still result in a binding valid contract?
3) What is meant by a "Covenant Not To Compete"?
a) Under what two circumstances would a covenant not to compete be deemed legal? b) Under what two circumstances would an otherwise legal covenant not to compete be deemed contrary to public policy? c) If deemed contrary to public policy, how might the courts remedy the situation?
4) If the law generally allows people to enter unfair contracts, explain the doctrine of unconscionability?

Explanation / Answer

Chapter 14(2)- Legality

According to my understanding that signing a licensing agreement is going to take longer than you think it should be patient, if an agreement is too one side, it won’t work out in long run. So both parties must establish what they and not willing to compromise, which take time and concerted effort.

There are some reasons why license contract fails:

The agreement fails to establish a performance clause or minimum guarantees.
The contract lacks an improvements clause.
The company doesn't pay you the minimum guarantee you are owed.
The product doesn't sell.
The company doesn't have any, or sufficient, product liability insurance.

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.

Parties: Anyone can enter into a contract, except minors, certain felons and people of unsound mind. The contract must identify who the parties are; usually names are sufficient, but sometimes addresses or titles may be used.
Consent. A valid contract also requires the parties' consent, which must be free, mutual and communicated to each other. Consent is not free when obtained through duress, menace, fraud, undue influence or mistake.

Object. The thing being agreed to is also known as the object or subject. It must be lawful, possible and definite.

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

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