Mapa mental
Amber and Renee
Mind map: Amber and Renee contract mind map
Contenido del mapa
Amber and Renee
Acceptance
- The offeree goes along with the offer
Benefits
- Something that was not previously offered
Bilateral
- Contains two promises
- Capacity
- Legal ability to enter into a contract
Consideration
- Exchange of benefits and detriments
- Counteroffer
- any change in the terms of the offer
- Death
- offeror dies
- Detriments
- anything given up
- Duress
- overcoming a persons free will
- Economic Duress
- threats to a persons business or income
- Emanicipation
- severing of the parent-child relationship
- Express
- contract statement that may be written or oral
- Firm Offer
- a written offer for goods that states the period of time during which the offer will stay open
- Forbearance
- not doing something that you have a right to do
- Fruadulent Misrepresentaton
- party to a contract deliberatley makes an untrue statement of fact
- Genuine Agreement
- A valid offer made by the offeror and has been accepted
- Illusory Promises
- Wording that allows the party to release from legal obligation
- Implied
- The parties action comes from a contract
- Insanity
- the offeror is to be abnormaly challenged
- Legality
- Illegal forms as to be called contracts
- Mentally Incapacitated
- Consequences from people of contractual acts which lack to understand
- Mirror Image Rule
- terms and the offer must match exactly
- Mutual Mistake
- both parties are miss lead about the importants of facts
- Nominal Consideration
- the parties have an amount and do not wish to say what amount
- Offer
- Proposal by one party to another
- Oferee
- Offer made to this person
- Oferor
- makes the offer
- Option
- gives the offeror something of value in return
- Oral
- Created by two or more people speaking to eachother
- Past Performance
- Act that already been performed
- Price Fixing
- Competitors agree on price ranges
- Rejection
- refusal by the offeree
- Restrictive Covenant
- Agreement not to compete in a region for a period of time
- Revocation
- Taking back of an offer by offeror
- Statue of Fraud
- Requires that certain contracts to be in writing
- Unconscionable
- So grossly unfair
- Undue Influence
- unfair and improper persuasive pressure within a relationship
- Unenforceable Contract
- Contract that court will not uphold
- Unilateral
- contains a promise by only one person to do something
- Unilateral Mistake
- an error on the part of one of the parties
- Usury
- charging to high of an interest rate
- Valid Contract
- includes all elements by the court
- Void Contract
- without legal effect
- Voidable Contract
- one or more parties can get out of contract for some legal reason
- Written
- contract terms are written so that both parties know the exact terms