Contract Law

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• Unqualified Willingness by the offeree to go along with the offer

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• Something that a party was not previously entitled to receive

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• Contains two promises

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• Exchange of benefits and detriments by the parties to an agreements

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• Legal ability to start a contract

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• Offeror dies

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• Anything lost or given up

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• Overcoming someones freewill by use of force or by threat of force

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• Threats to a person's business or income

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• Contract statemen that may be written or oral

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• Severing of the parent child-relationship

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• A written offer for goods that states the period of time during which the offer will stay open

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• Not doing something that you have the right to do

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• Party to a contract deliberately makes an untrue statement of fact

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• Contract that comes about from the actions of a party

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• Clause or wording that allows party to escape from legal obligation

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• A valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree

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• Offeror is declared insane

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• Illegal contracts

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• Lacking the ability to understand the consequences of his or her contractual acts

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• Terms of the acceptance must match exactly (mirror) the terms of the offer

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• Both parties are mistaken about an important fact

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• Proposal by one party to another in a written contract where either parties cannot or do not wish to state the amount

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• Token amount in a written contract where either the parties cannot or do not wish to state the amount

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• Offer made to this person

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• Makes the offer

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• The offeree gives the offeror something of value in return for a promise to keep the offer open for a set period of time

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• Created by two or more people speaking to eachother

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• Refusal by the offeree

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• Competitors agree on certain price rangers within which they will sell their products

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• Agreement not to compete in a region for a set period of time

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• An act that has already been peformed cannot be consideration in a contract

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• Taking back of an offer

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• Requires that certain contracts be in writing to be enforced

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• So grossly unfair or oppressive that it would shock the conscience of the court

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• Unfair and improper pressure within a relationship of turst

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• Contract that court will uphold, usually because of some rule of law