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9 Cards in this Set
- Front
- Back
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accord and satisfaction
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aggreement by contracting parties that is satisfied by full performance, thereby terminating a prior contract as well
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agreement
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a contract, mutual assent between two or more parties
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assignment
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a transfer of legal rights and obligations by one party to another
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attorney-in-fact
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person appointed to perform legal acts for another under a power-of-attorney
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breach of contract
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failure to fulfill an agents duty to his or her principal
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capacity of parties
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the ability of parties to perceive and understand what they are contracting to do
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carry over clause
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clause in listing contract protecting the broker's commission entitlement for a specified period of time after expiration of the contract
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competent parties
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persons and organizations legally qualified to manage their own affairs, including entering into contracts
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complete performance
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execution of a contract by virtue of all parties having fully performed all terms
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