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10 Cards in this Set

  • Front
  • Back

- promise or agreement that creates legal obligations enforceable at law.

express contract
- stated contract in words and may be eithor written or oral

- unqualified willingness to go along with an offer. the acceptance must not change the terms of the original offer in any way.

implied contract
- contract that comes about from the actions of the parties. Often people enter into implied contracts without exchanging words.

bilateral contract
- contract that contains two promises : one by each person. One person promises to do something in exchange for the other persons promise to do something.

Void Contract
- haveing no legal force

- a proposal by one party to another party to enter into a contract

- acceptance that changes the terms of the original offer and terminates the offer

unilateral contract
- contract that contains one promise only. a person promises to do something if and when the other person performs the act

valid contract
- legally good