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12 Cards in this Set
- Front
- Back
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Define Contract according to Blackstone
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An agreement, upon sufficient consideration, to do or not to do a particular thing
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Contract - modern definition
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A promise or set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes a duty
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Valid
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Everything is okay, all elements are there
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Void
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One of the elements is missing, lacks requirement of contract
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Voidable
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Valid but capable of being voided by a circumstance
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Unenforceable
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Was initially valid, but not enforceable due to change in law or it is held to violate public policy
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Another name for Quasi
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Quantum Meruit
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Quasi
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Equitable concept used by courts to prevent injustice, not a true contract
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The Offer
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Creates the offerer and offeree
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The Acceptance
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Expression of assent
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Executory Contract
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Contracts that have not been fully performed by either party
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Executed contracts
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Contracts that have been fully performed by both parties
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