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10 Cards in this Set
- Front
- Back
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Capacity |
Ability to incur legal obligations and aquire legal rights |
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Minor |
Less than 18 years of age in most states |
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Disaffirmance |
Right to avoid contract |
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Exculpatory clause |
Waive liability |
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Ratification |
Confirms contract |
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Necessities |
Consideration needed for survival |
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Contract of adhesion |
A contract offered by a party in superior barganing position on a "take it or leave it" basis |
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Unconscionability |
Absence of meaningful choice with terms unreasonably advantageous |
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Obligor |
Person who owes a duty to perform under a contract |
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Obligee |
Person to whom the duty is owed |
