Amber and Renee

americansushi98
Mind Map by americansushi98, updated more than 1 year ago
americansushi98
Created by americansushi98 almost 5 years ago
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Resource summary

Amber and Renee
1 Acceptance

Annotations:

  • The offeree goes along with the offer
2 Benefits

Annotations:

  • Something that was not previously offered
3 Bilateral

Annotations:

  • Contains two promises
3.1 Capacity

Annotations:

  • Legal ability to enter into a contract
4 Consideration

Annotations:

  • Exchange of benefits and detriments
4.1 Counteroffer

Annotations:

  • any change in the terms of the offer
4.1.1 Death

Annotations:

  • offeror dies
4.1.1.1 Detriments

Annotations:

  • anything given up
4.1.1.2 Duress

Annotations:

  • overcoming a persons free will 
4.1.1.2.1 Economic Duress

Annotations:

  • threats to a persons business or income
4.1.1.2.1.1 Emanicipation

Annotations:

  • severing of the parent-child relationship
4.1.1.2.1.1.1 Express

Annotations:

  • contract statement that may be written or oral
4.1.1.2.1.2 Firm Offer

Annotations:

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

Annotations:

  • not doing something that you have a right to do
4.1.1.2.1.2.1.1 Fruadulent Misrepresentaton

Annotations:

  • party to a contract deliberatley makes an untrue statement of fact
4.1.1.2.1.2.1.1.1 Genuine Agreement

Annotations:

  • A valid offer made by the offeror and has been accepted 
4.1.1.2.1.2.1.1.1.1 Illusory Promises

Annotations:

  • Wording that allows the party to release from legal obligation 
4.1.1.2.1.2.1.1.1.1.1 Implied

Annotations:

  • The parties action comes from a contract
4.1.1.2.1.2.1.1.1.1.1.1 Insanity

Annotations:

  • the offeror is to be abnormaly challenged 
4.1.1.2.1.2.1.1.1.1.1.1.1 Legality

Annotations:

  • Illegal forms as to be called contracts
4.1.1.2.1.2.1.1.1.1.1.1.1.1 Mentally Incapacitated

Annotations:

  • Consequences from people of contractual acts which lack to understand
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1 Mirror Image Rule

Annotations:

  • terms and the offer must match exactly 
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1 Mutual Mistake

Annotations:

  • both parties are miss lead about the importants of facts
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1 Nominal Consideration

Annotations:

  • the parties have an amount and do not wish to say what amount
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1 Offer

Annotations:

  • Proposal by one party to another
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1 Oferee

Annotations:

  • Offer made to this person
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Oferor

Annotations:

  • makes the offer
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Option

Annotations:

  • gives the offeror something of value in return
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Oral

Annotations:

  • Created by two or more people speaking to eachother
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Past Performance

Annotations:

  • Act that already been performed
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Price Fixing

Annotations:

  • Competitors agree on price ranges
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Rejection

Annotations:

  • refusal by the offeree
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Restrictive Covenant

Annotations:

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

Annotations:

  • Taking back of an offer by offeror
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Statue of Fraud

Annotations:

  • Requires that certain contracts to be in writing
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Unconscionable

Annotations:

  • So grossly unfair
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Undue Influence

Annotations:

  • unfair and improper persuasive pressure within a relationship
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Unenforceable Contract

Annotations:

  • Contract that court will not uphold
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Unilateral

Annotations:

  • contains a promise by only one person to do something
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Unilateral Mistake

Annotations:

  • an error on the part of one of the parties
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Usury

Annotations:

  • charging to high of an interest rate
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Valid Contract

Annotations:

  • includes all elements by the court
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Void Contract

Annotations:

  • without legal effect
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Voidable Contract

Annotations:

  • one or more parties can get out of contract for some legal reason
4.1.1.2.1.2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1 Written

Annotations:

  • contract terms are written so that both parties know the exact terms
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