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10 Cards in this Set

  • Front
  • Back
What is a Contract?
An enforcable agreement btetween parties with promises
Bilateral contract?
Promise for a promise; prospective in nature
Unilateral contract?
Promise for an act; contemperanius
Expressed Contract?
created by expressions of the partes
Implied Contract?
Created by Behavior
Exectued Contract?
every party performed duty within contract
Executory Contract
Something remains to be completed in the contract
Valid Contract
all elements of valid contract are there
Void Contract?
not enforcable agreement
Voidable contract?
allows a party to leave the contract