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15 Cards in this Set
- Front
- Back
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Definition of a contract
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a promise or a set of promises that will be enforced by the courts
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Bilateral
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-involved 2 promises ex: “ill sell my car for $2k.#1) “#2okay”
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Express
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stated in words, orally or in writing
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Unilateral-
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a promise for an ad. (one promise) ex: “ if ??
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Implied-in-fact
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a contract that isn’t expressed, but created by conduct of parites ex : haircut
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Implied in law (quasi)-
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created by a court to avoid unjust enrichment ex: new driveway, but if home don’t have to pay.
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Executed
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complete by all parties.
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Executory
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incompleate
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Valid
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fulfills all requirments
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Void
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no contract @ all a court wont enforce it ex: minors or illgal stuff
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Voidable-
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a contract that looks good but one party can get out of
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Unenforceable
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a contract that a court wont enforce b/c of a technical reason ex; be in writing.
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requirements of an offer
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offer is made by the offer or *must show intent to enter into a contract *must be definite **” be communicated to the offeree (reward ex…don’t get if your not aware
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termination of offers-
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a. revocation taking the offer back before acceptance
b. Counter offer c. Rejection- d. Death- |
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disaffirmance
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the term used to describe getting out of a contract by a minor.
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