A | B |
Allocation of markets | competitors' agreement to split market areas between themselves |
bid rigging | competitors who bid on jobs agree one bidder will have lowest bid |
competency license | state requirement for people and business to pass exams for license |
compounding a crime | accepting something of value for a promise not to inform or prosecute a suspected criminal |
covenants not to compete | price fixing, market allocations, and terminated employees for purpose of protecting company's interest |
divisible contracts | contracts for which separate consideration is given for the legal and illegal parts |
gambling | a chance to win on luck rather than skill with a prize for a winner(s) |
legal rate of interest | a contract interest rate when called for but not stated |
maximum rate of interest | lenders may not exceed this rate of interest by statute |
price fixing | competitors agree to charge the same amount for a product or service |
procedural unconscionability | a contract created with gross unfairness |
resale price maintenance | manufacturer attempts to influence retail price of its product or service |
restitution | restoring or making good a loss |
revenue license | mechanism used by governments only to raise money |
small loan rate of interest | higher interest rates for loans under $2000 loan companies and pawnbrokers may charge |
substantive unconscionability | element of unconscionability shown in the terms of a contract |
unconscionable contract | grossly unfair contract for the sale of goods |
usury | charging interest on a loan beyond the legally permitted maximum rate |
wager | a bet on a certain outcome of an event |