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If one of the parties to the contract is a minor or a person lacking mental capacity, that party will not have the legal capacity to contract. [38] Only if both contract parties have the legal capacity to sign a contract, contracts are only enforceable. Some contracts are classified by common law as illegal and unenforceable:
Taxes – Smaller companies typically fund expansions out of retained profits so high tax rates hinder their growth and ability to compete with existing firms. Larger firms may be better able to avoid high taxes through either loopholes written into law favoring large companies or by using their larger tax accounting staffs to better avoid ...
A loophole is an ambiguity or inadequacy in a system, such as a law or security, which can be used to circumvent or otherwise avoid the purpose, implied or explicitly stated, of the system. Originally, the word meant an arrowslit , a narrow vertical window in a wall through which an archer (or, later, gunman) could shoot.
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
Silicon Valley Bank's deposits were backstopped by the government over the weekend, a move made possible by a narrow legal exception inside a 32-year-old banking law.
MA Chirelstein, Concepts and Case Analysis in the Law of Contracts (6th edn 2010) EA Farnsworth, Contracts (2008) LL Fuller, MA Eisenberg and MP Gergen Basic Contract Law (9th edn 2013) CL Knapp, NM Crystal and HG Prince, Problems in Contract Law: Cases and Materials (7th edn Aspen 2012) Books. OW Holmes, The Common Law (1890) chs 7-9
Two years after the NCAA cleared the way for college athletes to earn money off their fame and celebrity, digital technology is allowing some of them to get paid by their fans without having to do ...
WGA leaders met face-to-face with key CEOs on Tuesday evening as executives sought to pitch the guild on their most recent contract offer in the hopes of ending the nearly four-month-old strike.