Contracts (6, 7, & 8)
Contracts
More Contracts (9, 10, & 11)
Contracts Aain
Even More Contracts (12, 13, & 14)
100
An agreement that can be rejected by one or both of the parties.
What is a voidable contract?
100
severing of the parent-child relationship
What is emanicipation
100
Approval of a contract made by a minor after reaching age of majority.
What is ratification?
100
Created by two or more people speaking to each other
What is Oral?
100
A transfer of a contract right to a third party who can receive the benefits of the contract.
What is an assignment?
200
The requirements of a valid offer.
What are 1) definite and certain, 2) communicated to the offeree, and 3) made with a serious intention that the offeror will be bound.
200
A denial or repudiation in an express warranty that places specific limitations in the warranty.
What is a disclaimer?
200
Not doing something that you have the right to do
What forebearance?
200
Both parties are mistaken about an important fact
What is Mutual Mistake (Bilateral Mistake)?
200
competitors agree on certain price ranges within which they will sell their products
What is Price Fixing?
300
The act of applying unlawful or improper pressure or influence to a person to gain her agreement to a contract.
What is duress?
300
A guarantee suggested or inferred from known facts and circumstances.
What is an implied warranty?
300
Clause or wording that allows party to escape from legal obligation
What is Illusory Promise
300
Lacking the ability to understand the consequences of his or her contractual acts
What is mentally incapacitated?
300
A party who guarantees the promises assigned.
What is the guarantor?
400
The six requirements of a valid contract.
What are 1) offer and acceptance, 2) genuine agreement, 3) consideration, 4) Capacity, 5) legality of purpose, 6) proper form?
400
The law's assumption that goods are fit for their intended use.
What is implied warranty of fitness for a particular purpose?
400
An act that has already been performed cannot be consideration in a contract.
What is past consideration?
400
Party to a contract deliberately makes an untrue statement of fact
What is Fraudulent Misrepresentation?
400
A law requiring certain contracts to be in writing to be enforceable.
What is the statute of frauds?
500
The calling back of an offer by the offeror before the offer has been accepted or rejected.
What is revocation?
500
A warranty that does not meet the minimum requirements of a full warranty.
What is a limited warranty?
500
the offeree gives the offeror something of value in return for a promise to keep the offer open for a set period of time
What option?
500
Tom offers to sell Ida his lawnmower for $1000 but Ida suggested paying $800.
What is Counter Offer?
500
When a party to a contract refuses to perform as required by the contract or performs in an unsatisfactory manner.
What is breach of contract?
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