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Law Chap 13

Chapter 13 Vocab

TermDefinition
adhesion contract A standard-form contract in which the stronger party dictates the terms
blue sky law State law that regulates the offer and sale of securities
covenant not to compete A contractual promise of one party to refrain from competing in business with another party for a certain period of time and within a specified geographical area.
exculpatory clause A clause that releases a party to a contract from liability for his or her wrongful acts
reformation A court-ordered correction of a written contract so that it reflects the true intentions of the parties
unconscionable contract or clause A contract or clause that is void because one party is forced to accept terms that are unfairly burdensome and that unfairly benefit the other party.
usury Charging an illegal rate of interest
Created by: jtietboehl