Copyright

Statutory Illegality in Contracts: Legislation, Liability & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Pepe's Pay Day Loans decided to raise their interest rates from 7% to 86% after Christmas. Is this legal?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Identify the statement that is true to Blue Laws.

2. Libby wanted to create a lottery to make money on some of her vintage clothing. Can she do this if her State does not allow gambling?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

The quiz will test you on key terms related to statutory illegality in contracts. The questions will give you a term and you will need to select the correct definition. Other questions will give you particular scenarios. You will then be asked to apply the meaning of key terms and analyze the situation.

Quiz & Worksheet Goals

The quiz will test you on the following:

  • Pay day loans
  • Blue laws
  • Lotteries
  • Extortion
  • License needed to practice law or medicine

Skills Practiced

You will practice the following skills:

  • Making connections - use understanding of the concept of extortion
  • Interpreting information - verify that you can read information regarding blue laws and interpret it correctly
  • Information recall - access the knowledge you've gained regarding pay day loans
  • Knowledge application - use your knowledge to answer questions about a license needed to practice law or medicine

Additional Learning

Read the related lesson to learn more about this topic. The lesson is called Statutory Illegality in Contracts: Legislation, Liability & Examples, and it will cover the following:

  • Statutory illegality
  • Usury
  • Understanding licenses and their relation to contract law
  • Types of licenses and contracts
Support