If a Contract Is Illegal, a Promisee Who Has Already

question 9

True/False

If a contract is illegal, a promisee who has already performed under the contract can neither obtain performance of the act for which he bargained nor recover the money he paid or the value of the performance he made.

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Definitions:

Production Process

The series of steps or actions taken to transform raw materials into finalized products.

Regulatory Environment

The collection of laws, regulations, and guidelines that govern how businesses operate, impacting various sectors differently.

Operating Segment

A component of a business that engages in business activities which may earn revenues and incur expenses, and for which separate financial information is available.

Operating Segments

Parts of a business for which financial information is available and evaluated by the chief decision maker for purposes of resource allocation and performance assessment.