Key Terms of Contract Law

Acceptance
Nota:
- Saying yes to an offer
Benefits
Nota:
- something that wasn't entitled to you
Bilateral
Nota:
- two promises
Capacity
Nota:
- legal ability to enter into a contract
Consideration
Nota:
- benefits to an agreement
Counteroffer
Nota:
- any change in offer
Death
Nota:
- act of dying
Detriments
Nota:
- any loss
Duress
Nota:
- overcoming a persons business
Economic Duress
Nota:
- threats to persons business
Emancipation
Nota:
- parent-child relationship
Express
Nota:
- contract statement that may be written
Firm Offer
Nota:
- a written offer
Forbearance
Nota:
- not doing something that you have a right to do
Fraudulent Misrepresentation
Nota:
- party to a contract makes a false statement
Genuine Agreement
Nota:
- a valid offer has been made by the offeror
Illusory Promises
Nota:
- allows escape from legal obligation
Implied
Nota:
- contract that comes about from the actions
Insanity
Nota:
- offeror is crazy
Legality
Nota:
- Illegal contracts
Mentally Incapacitated
Nota:
- lacking the ability to understand
Mirror Image
Mutual Mistake
Nominal Consideration
Offer
Offeror
Option
Oral
Past Performance
Price Fixing
Rejection
Restrictive covenant
Offeree
Revocation
Statute of Frauds
Unconscionable
Undue Influence
Unenforceable contract
Unilateral
Usury
Valid contract
Void contract
Voidable contract
Written
Unilateral Mistake

Resumen del Recurso

	Creado por James Blalock hace más de 9 años