Contract

gbaldwin99
Mind Map by gbaldwin99, updated more than 1 year ago
gbaldwin99
Created by gbaldwin99 almost 5 years ago
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Resource summary

Contract
1 acceptance

Annotations:

  • offeree doesn't agree with the offer
1.1 benefits

Annotations:

  • something a party was not entitled to get earlier.
1.1.1 bilateral

Annotations:

  • has two promises.
1.1.1.1 capacity

Annotations:

  • legal ability to enter into a contract.
1.1.1.1.1 duress

Annotations:

  • overcoming someones free will by force or threat or bodily harm.
1.1.1.1.1.1 firm offer

Annotations:

  • a written offer offer goods that states the period of time during which the offer will stay open.
1.1.1.1.1.2 implied

Annotations:

  • contract that comes about from the actions of the parties.
1.2 detriments

Annotations:

  • any loss suffered or anything given up.
1.2.1 economic duress

Annotations:

  • threats to someones income or buisness.
1.2.1.1 insanity

Annotations:

  • offeror is declared insane.
1.2.2 express

Annotations:

  • contract statement that may be written or oral.
2 consideration

Annotations:

  • exchange of benefits and detriments by the parties to an agreement.
2.1 counteroffer

Annotations:

  • change in the terms of the offer.
2.1.1 death

Annotations:

  • offerer dies
  • offeror dies
2.1.1.1 emancipation

Annotations:

  • serving of the parent-child relationship.
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