Characteristics of Contract
Elements of a Contract
Bill of Rights
Capacity/Considerations
Valid?
100
Cerain contracts required to be in writing- sale of real esatate; pay debts of others. Goods over $500
What is written contract
100
A proposal made by one party to another party
What is offer
100
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise
What is amendment 1
100
To approve promises made during minority; bound by those promises
What is ratify
100
Legally good
What is valid
200
Word of mounth only Ex: soliciting lawn service by phone.
What is oral contract
200
The agreement of the offeree to be bound by terms of the offer
What is acceptance
200
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.
What is amendment 4
200
Relinquished the protections afforded as a minor
What is abandoned
200
No legal effect - missing required element
What is Void
300
Will not stand up in court; statue of limitations
What is Uneforceable
300
Legal capicty to enter a contract
What is capacity
300
Excessive bail shall not be required
What is amendment 8
300
A person who is appointed to care for someone
What is Guardian
300
Come from actions of the parties, no words expressed
What is implied
400
Stated in words and may be oral or written.
What is Express
400
is the thing of value promised to one party in a contract in exchange for something else of value promised.
What is considerations
400
keep and bear Arms,
What is amendment 2
400
People living in this country but owing their allegiance to another
What is Aliens
400
Person under the age of majority
What is minority
500
Two-sided; contains two promises. Ex: Promise to sell and a promise to purchase.
What is Bilateral
500
Parties are not allowed to enforce contracts that involve illegal acts.
What is legality
500
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial
What is amendment 6
500
Any loss that is suffered as a result of an agreement
What is detriment
500
agreement to relinquish all obligations; must be signed
What is release
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