Identify and explain the types of contracts that may violate a statute and distinguish between the two types of licensing statutes.

Illegal Bargains

• Identify and explain the types of contracts that may violate a statute and distinguish between the two types of licensing statutes.
• Describe when a covenant not to compete will be enforced and identify the two situations in which these types of covenants most frequently arise.
• Explain when exculpatory agreements, agreements involving the commitment of a tort, and agreements involving public officials will be held to be illegal.
• Distinguish between procedural and substantive unconscionability.
• Explain the usual effects of illegality and the major exceptions to this rule.