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5 Cards in this Set

  • Front
  • Back
Contract
A legally enforcable exchange of promises
Detriment
Doing something that you're not legally obligated to do outside the contract
Four Elements of a Valid Contract
1) Mutual Agreement
2) Consideration
3) Legality of Object
4) CApacity of Party
What do we look for to see whether there is valid consideration for a contract?
Was what was exchanged for equal or similar value
When does a court uphold the statute of frauds?
Unjust enrichment and promisory estoppel