Mapa mental
Contract Law
Contenido del mapa
Contract Law
acceptance
- I accept the contract that was presented
- Benefits
- Something that a party was not previously entitled to receive
- Bilateral
- 2 promises
- capacity
- power to enter into a contract
- Consideration
- Exchanges of advantages and damages by the parties to an agreements
- Counteroffer
- Change in the terms of an offer
- Death
- No longer an offer
- Detriments
- Any damages; loss Anything given up
- Duress
- Defeating a person's free will by harm or force
- Economic Duress
- Threats to a person's business or income
- Emancipation
- The ending of the parent-child relationship
- Express
- Written or spoken contract statement
- Firm Offer
- written offer for things that state the period of time during which the offer will stay open
- Forbearance
- You don't do something that you have the right to do
- Fraudulent Misrepresentation
- Party to a contract intentionally makes a false statement of fact
- Genuine Agreement
- Valid offer made by the offeror and a valid acceptance has been exercised by the offeree
- Illusory Promises
- Clause or wording that allows party to escape from legal obligation
- Nominal Consideration
- Token amount in a written contract where either the parties cannot or do not wish to state the amount
- Oral
- Created by two or more people speaking to each other
- Unilateral
- A promise by one person to do something if and when the other party performs a certain act.
- Void Contract
- No legal effect
- Statute of Frauds
- Requires that certain contracts be in writing to have power
- Legality
- illegal contracts
- Mentally Incapacitated
- Lacking the power to understand the consequences of his or her contractual actions
- Past performance
- An act that has already been performed cannot be consideration in a contract
- Valid Contract
- Has all elements recognized by the court
- Mirror Image rule
- Everything must match the terms of the offer
- Undue Influence
- Unfair and wrong pressure in a trusting relationship
- Unilateral Mistake
- A wrong on the behalf of one of the parties
- Restrictive covenant
- agreement not to complete in a region for a period of time
- Rejection
- Refusal by the offeree
- Unconscionable
- So horrible that it shocks the court
- Offer
- Proposal by one party to another with intent to create a legal binding agreement
- Offeree
- Person the offer is made to
- Mutual mistake
- Both parties are mistaken about an important fact
- Offeror
- Person that makes the offer
- Option
- the offeree gives the offeror something of value in return for a promise to keep the offer open for a set period of time
- Revocation
- Taking away an offer
- Implied
- Contract that comes about from the actions of parties
- Insanity
- Offeror is declared insane
- Price Fixing
- Competitors agree on a certain ranges within which they will sell their products
- Unenforceable contract
- Contract that won't be upheld in court; mostly because of a rule or law
- Written
- Contract is written so that both parties are aware of the exact terms
- Usury
- Charging too high of an interest rate
- Voidable Contract
- Parties are able to get off contract for some legal reason
Información
- Descripción
- Mind map
- Creado por
- allison faircloth · sep 2015
- Actualizado
- 19 feb 2016
- Visitas
- 24
- Etiquetas
- Valoración