Contract Law

samuel wallace
Mind Map by samuel wallace, updated more than 1 year ago
samuel wallace
Created by samuel wallace over 5 years ago
11
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Description

A mind map on contract law

Resource summary

Contract Law
1 Acceptance

Annotations:

  • Unqualified willingness by the offeree to go along with the offer
2 Benefits

Annotations:

  • Something you get as a bonus
3 Bilateral

Annotations:

  • Both people promise
4 Capacity

Annotations:

  • Legality to enter into a contract
5 Consideration

Annotations:

  • Exchange of term until an agreement is reached
6 Counteroffer

Annotations:

  • A change to the terms
7 Death

Annotations:

  • Offeror dies
8 Duress

Annotations:

  • Taking someones free will by force
9 Economic Duress

Annotations:

  • Threats to a business
10 Emancipation

Annotations:

  • Cutting parent child relations
11 Express

Annotations:

  • Contract Statement
12 Firm Offer

Annotations:

  • A written offer that ensures goods will be delivered
13 Forbearance

Annotations:

  • Doing something that you cant do
14 Fradulent Misrepresentation

Annotations:

  • Party lies intentionally
15 Genuine Agreement

Annotations:

  • Both parties have agreed
16 Illusory Promises

Annotations:

  • Words that act as loopholes
17 Implied

Annotations:

  • Contract made from actions
18 Insanity

Annotations:

  • Offeror is declared insane
19 Legality

Annotations:

  • Illegal Contract
20 Mentally Incapacited

Annotations:

  • Lacking the ability to understand the contract
21 Mirror Image Rule

Annotations:

  • Both terms must be exactly the same
22 Mutual Mistake

Annotations:

  • Both parties are wrong
23 Nominal Consideration

Annotations:

  • When the parties don't state an ammount
24 Offer

Annotations:

  • Proposal too create a legally binding deal
25 Offeree

Annotations:

  • Offer made
26 Offeror

Annotations:

  • Offer made
27 Option

Annotations:

  • Something of value in exchange for more time
28 Oral

Annotations:

  • Created from Speech
29 Past Performance

Annotations:

  • Acts that have already been performed cant be considered in a contract
30 Price Fixing

Annotations:

  • Competitors agree on how much theyre product cost
31 Rejection

Annotations:

  • Saying No to a contract
32 Restrictive Covenant

Annotations:

  • Agreement to not participate in a region
33 Revocation

Annotations:

  • Taking back an offeror
34 Statute of Frauds

Annotations:

  • Certain contracts be written
35 Unconcscionable

Annotations:

  • So unfair it would shock the court
36 Undue Influence

Annotations:

  • Contract the court will not uphold
37 Unilateral

Annotations:

  • Contract only one person agrees to
38 Unilateral Mistake

Annotations:

  • Mistake by one party
39 Usury

Annotations:

  • Charging to much interest
40 Valid contract

Annotations:

  • Includes all legal elements
41 Void Contract

Annotations:

  • Without Legal Effect
42 Voidable Contract

Annotations:

  • One or more parties cant leave the contract
43 Written

Annotations:

  • Contract is written
44 Termination

Annotations:

  • Ending a contract
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