key terms to contracts

offeree
Nota:
- offer made to the person
offeror
Nota:
- makes the offer
Oral
Nota:
- created by two or more people speaking to each other
death
Nota:
- offeror dies
Rejection
Nota:
- refusal by offeree
Legality
Nota:
- illegal contracts
mutual mistake
Nota:
- Both parties are mistaken about an important fact
Express
Nota:
- contract statement that may be written or oral
noncriminal consideration
Nota:
- token amount in a written contract where either parties cant or do not wish to state the amount
option
Nota:
- the offeree gives the offeror something in value in return for a promise
Economic Duress
Nota:
- threats to a persons business and income
past performance
Nota:
- act that has already been performed cant be consideration in a contract
Restrictive covenant
Nota:
- agreement not to complete in a region for a period of time
benefits
Nota:
- something that a party was not previously entitled to receive
bilateral
Nota:
- contains two promises
Emancipation
Nota:
- serving of the parent child relationship

Resumen del Recurso

	Creado por jaelyntotten295370 hace alrededor de 9 años