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15 Cards in this Set
- Front
- Back
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Assignment of rights
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A transfer of benefits under a contract to another person.
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Choice of forum provisions
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Determine the state in which any litigation would take place.
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Choice of law provisions
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Determine which state’s laws will be used to interpret the contract.
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Conditional promises
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Promises that a party agrees to perform only if the other side has first done what it promised.
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Covenant
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A promise in a contract.
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Delegation of duties
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A transfer of obligations in a contract.
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Force majeure event
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A disruptive, unexpected occurrence for which neither party is to blame that prevents one or both parties from complying with a contract.
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Good faith
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An honest effort to meet both the spirit and letter of a contract.
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Material breach
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A violation of a contract that defeats an essential purpose of the agreement.
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Reasonable
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Ordinary or usual under the circumstances.
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Reciprocal promises
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Promises that are each enforceable independently.
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Representations and warranties
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Statements of fact about the past or present.
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Rider
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An amendment or addition to a contract.
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Scrivener’s error
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A typo.
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Sole discretion
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A party to a contract has the absolute right to make a decision on that issue.
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