what does indemnify mean in law

May 5, 2022 Uncategorized

Why can’t a contract be enforced?

However, in some instances, Courts will hold that a contract will not be enforced because it is too harsh or oppressive to one of the parties . For example, a clause in a contract which provides that a party will pay a large penalty if he breaks

What is the fourth element of a contract?

The fourth element of a contract is that it must be made for a lawful objective. Courts will not enforce contracts that are illegal or violate public policy. Such contracts are considered void. For example, a gambling contract would be illegal in many states. If the illegal agreement has not been performed, neither party has the right to sue …

When an ongoing business is sold, is it commonly stated in the sales contract?

When an ongoing business is sold, it is commonly stated in the sales contract that the seller shall not go into the same area or a similar business again within a certain geographical area or for a certain period of time or both. Such an agreement is valid and enforceable.

Is a gambling contract void?

Such contracts are considered void. For example, a gambling contract would be illegal in many states. If the illegal agreement has not been performed, neither party has the right to sue the other for damages or to require performance of the agreement. If the agreement has been performed, neither party can sue the other for damages or to have …

Why is a restriction of competition invalid?

When a restriction of competition is invalid because it is too long or covers too great a geographical area, Courts will generally do one of two things. Some Courts will trim the restrictive covenant down to a period of time or geographical area that the Court deems reasonable.

What is a void agreement?

An agreement which calls for the commission of a crime is illegal and therefore void. For example, a person could not enforce an agreement with another party to burn a house down. Also, an agreement that calls for the commission of a civil wrong (such as a tort) is illegal and void. For example, an agreement to slander a third party is void.

Is gambling illegal in many states?

For example, a gambling contract would be illegal in many states. If the illegal agreement has not been performed, neither party has the right to sue the other for damages or to require performance of the agreement. If the agreement has been performed, neither party can sue the other for damages or to have the agreement set aside.

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