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10 Cards in this Set
- Front
- Back
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Agreement |
The manifestation by two or more persons of the substance of a contract. |
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Consideration |
Something of legal value given in exchange for a promise. |
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Promissory estoppels |
A possible remedy for an injured plaintiff in a case with no valid contract, where the plaintiff can show a promise reasonable reliance, and injustice. |
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Letter of Intent |
A letter that summarizes negotiating progress. |
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Mirror image rule |
Requires that acceptance be on precisely the same terms as the offer. |
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Forbearance |
Refraining from doing something that one has a legal right to do. |
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Lawful object |
Where the focus or purpose of the contract is legal. |
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Bilateral contract |
A contract entered into by way of exchange of promises of the parties; a "promise for a promise." |
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Unilateral contract |
A contract in which the offeror's offer can be accepted only by the performance of an act by the offeree; a "promise for an act." |
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Integrated contract |
A writing that the parties intends as the final, complete expression of their agreement. |
