Effects or consequences of illegality, Business Law and Ethics

Effects or Consequences of Illegality

Misdemeanour Or Illegality renders a contract unenforceable.  However the contract creates no rights and imposes no obligations at the parties.  But, is because the contract is beyond the pale of law consequently neither party has a legal remedy.  Thus as a general rule money or goods changing lands under an illegal contract are irrecoverable.  Means gains and losses remain whenever they have fallen.  Hence a court of law cannot assist parties for adjust their rights whether the contract is tainted with illegality.  Conversely money or goods changing hands under an illegal contract possibly will be recoverable when

  • A party repents or regrets the illegality previous to the contract is substantially performed.
  • Such the parties are not in pari delicto as i.e. not equally to blame obiously.
  • However the owner of the goods or money establishes title thereto devoid of relying upon the illegal contract.
Posted Date: 1/22/2013 4:19:19 AM | Location : United States







Related Discussions:- Effects or consequences of illegality, Assignment Help, Ask Question on Effects or consequences of illegality, Get Answer, Expert's Help, Effects or consequences of illegality Discussions

Write discussion on Effects or consequences of illegality
Your posts are moderated
Related Questions
I. Sammy has been under continuous employment with World Entertainment Ltd for 5 years. Last Friday Sammy was called to the Director's Office and verbally informed that h

Question 1 Describe the term banking. What are the acceptable businesses for a banking company as per BR Act 1949 Question 2 When is a negotiable apparatus considered as dish

State Article 3 of air and outer space law Article 3 refers to the fact that the Convention would be applicable to the civil aircraft only and not to the state aircraft. Also,

Classification of Precedent So as a precedent may also be classified as like; An original precedent whether it is one that creates and applies a new legal rule; o

Compromise or arrangement - reconstructions: A scheme of arrangement is very flexible since it may be used to effect any "compromise or arrangement" with members or a class of

Alteration of Capital: A company is empowered by S.63 to alter the provisions of its memorandum of association which relates to its registered or authorised capital. However,

QUESTION Albert approaches the National Transport Authority to have a taxi's license. The Chairman of the Authority, Mr. Smith, agrees to give him a license provided that Albert

QUESTION 1 Explain the composition and functions of the following institutions- (i) Employment Relations Tribunal (ii) Commission for Conciliation and Mediation QUEST

QUESTION (a) Under the UTM Regulations, an unsatisfied student can entertain an academic appeal within 10 days from the date he gets his result. X gets his result on the 3rd of

Interpretation of Constitution - High Court After then under Section 67(1) of the Constitution gives that whether any question as to the interpretation of the constitution ari