Contracts1

SwaggRanger18
Mind Map by SwaggRanger18 , updated more than 1 year ago
SwaggRanger18
Created by SwaggRanger18 over 5 years ago
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Contracts1
1 Acceptance

Annotations:

  • unqualified unwilling by the offeree to with the offer
1.1 Benefits
1.1.1 Bilateral

Annotations:

  • two promises
1.1.1.1 Capacity

Annotations:

  • legal ability to enter into a contract
1.1.1.1.1 Consideration

Annotations:

  • exchange of benefits and detriments by the parties to an agreement
1.1.1.1.1.1 Counteroffer

Annotations:

  • change in terms of the offer
1.1.1.1.1.1.1 Death

Annotations:

  • offeror dies 
1.1.1.1.1.1.1.1 Detriments

Annotations:

  • loss suffered ; given up
1.1.1.1.1.1.1.1.1 Duress

Annotations:

  • a person's free will force or threat of force or bodily harm
1.1.1.1.1.1.1.1.1.1 Economic Duress

Annotations:

  • threats to a person's business or income
1.1.1.1.1.1.1.1.1.1.1 Emanicipation

Annotations:

  • parent child relationships
1.1.1.1.1.1.1.1.1.1.1.1 Express

Annotations:

  • contract statement that may be written oral 
1.1.1.1.1.1.1.1.1.1.1.1.1 Firm Offer

Annotations:

  •  a written goods for a period of time stays open
1.1.1.1.1.1.1.1.1.1.1.1.1.1 Forbearance

Annotations:

  • not doing something that you have to the right to do 
1.2 Fraudulent Misrepresentation

Annotations:

  • untrue statement fact to a party contract
1.2.1 Genuine Agreement

Annotations:

  • a valid offer made by offeror  a valid  acceptance
1.2.1.1 Illusory Promises

Annotations:

  • clause or word escape from legal obligation
1.2.1.1.1 Implied

Annotations:

  • contract that comes about from the actions of the parties 
1.2.1.1.1.1 Insanity

Annotations:

  • offeror is declared insane
1.2.1.1.1.1.1 Legality

Annotations:

  • illegal contracts
1.2.1.1.1.1.1.1 Mentally Incapacitated

Annotations:

  • lack the abilities of his or he contractual acts
1.2.1.1.1.1.1.1.1 Mirror Image Rule

Annotations:

  • terms acceptance must match the terms of the offer
1.2.1.1.1.1.1.1.1.1 Mutual Mistake Bilateral

Annotations:

  • both parties are mistaken about a fact
1.2.1.1.1.1.1.1.1.1.1 Nominal Consideration

Annotations:

  • token amount in a contract where the parties cannot state the amount
1.2.1.1.1.1.1.1.1.1.1.1 Offer

Annotations:

  • intent to a legal binding agreement
1.2.1.1.1.1.1.1.1.1.1.1.1 Offeree

Annotations:

  • offer made to this person
1.2.1.1.1.1.1.1.1.1.1.1.1.1 Offeror

Annotations:

  • makes the offer
1.2.2 Option

Annotations:

  • offeree gives the offeror something in value for a promise keep offer open period of time
1.2.2.1 Oral

Annotations:

  • two or more people speaking
1.2.2.1.1 Past Performance

Annotations:

  • act already been performed cannot be considers as a contract
1.2.2.1.1.1 Price Fixing

Annotations:

  • competitors agree on a price range then sell their products
1.2.2.1.1.1.1 Rejection

Annotations:

  • refusal by the offeree
1.2.2.1.1.1.1.1 Restrictive covenant

Annotations:

  • agreement not compete in a region for a period of time
1.2.2.1.1.1.1.1.1 Revocation

Annotations:

  • taking back of an offer by offeror
1.2.2.1.1.1.1.1.1.1 Statute of Frauds

Annotations:

  • requires certain contracts to be writing enforceable 
1.2.2.1.1.1.1.1.1.1.1 Unconscionable

Annotations:

  • grossly unfair or oppressive shock the conscience of court
1.2.2.1.1.1.1.1.1.1.1.1 Undue Influence

Annotations:

  • unfair and improper pressure of trust
1.2.2.1.1.1.1.1.1.1.1.1.1 Unenforceable Contract

Annotations:

  • contract court will not uphold 
1.2.2.1.1.1.1.1.1.1.1.1.1.1 Unilateral

Annotations:

  • a promise by only one person the other party performs it
1.2.2.1.1.1.1.1.1.1.1.1.1.1.1 Unilateral Mistake

Annotations:

  • error on the part of the parties
1.2.2.2 Usury

Annotations:

  • charging too high of an interest rate
1.2.2.2.1 Valid contract

Annotations:

  • all elements recognized by the courts
1.2.2.2.1.1 Void Contract

Annotations:

  • without legal effect
1.2.2.2.1.1.1 Voidable Contract

Annotations:

  • one or more parties can get out of a contract for legal reason
1.2.2.2.1.1.1.1 Written

Annotations:

  • contract terms so both parties know the terms
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