Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
Agreement |
The manifestation by two or more persons of the substance of a contract. |
|
Consideration |
Something of legal value given in exchange for a promise. |
|
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. |
|
Letter of Intent |
A letter that summarizes negotiating progress. |
|
Mirror image rule |
Requires that acceptance be on precisely the same terms as the offer. |
|
Forbearance |
Refraining from doing something that one has a legal right to do. |
|
Lawful object |
Where the focus or purpose of the contract is legal. |
|
Bilateral contract |
A contract entered into by way of exchange of promises of the parties; a "promise for a promise." |
|
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." |
|
Integrated contract |
A writing that the parties intends as the final, complete expression of their agreement. |