key terms to contracts

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

Zusammenfassung der Ressource

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