Types of Contracts
This is the most common type of contract, where two parties exchange "a promise for a promise."
What is Bilateral Contract
One party fails to perform a small part of the contract, not affecting the overall agreement.
What is a Minor Breach
The "ND" in NDA
What is Non-Disclosure
This is a specific proposal by one party to another to enter into an agreement.
What is an Offer?
This pop star has been re-recording her albums because her original contract gave her "Masters" (ownership) to her old label.
Who is Taylor Swift
This type of contract is formed when an offer can only be accepted through the actual completion of a task, not a promise.
What is Unilateral Contract
A significant failure that permits the other party to terminate the contract and sue.
What is a Material Breach?
This 6-letter word describes a failure to live up to any of the promises made in a signed agreement.
What is a Breach
The contract must not involve illegal activities or violate public policy.
What is Legality
This YouTuber is currently facing a Class-Action Lawsuit from contestants of his Beast Games show, who claim their contracts didn't protect them from "unreasonable" filming conditions.
Who is MrBeast?
A contract is called this once all parties have fully performed their legal obligations
What is Executory Contracts
A breach so severe it destroys the contract’s basis.
What is a Fundamental Breach?
To be legally binding, a contract requires this "two-way street," where both parties must give up something of value, such as cash for a car.
What is Consideration?
Unequivocal agreement to the terms of the offer. This can be written, oral, or by action, but it must mirror the offer.
What is Acceptance
This billionaire is currently in court over a "Founding Agreement" he claims he had with the creators of OpenAI.
Who is Elon Musk
When you sit in a barber's chair and they begin cutting your hair, you have entered into this specific type of (Blank) Contract
What is Implied Contracts
This occurs when one party informs in advance they will not fulfill their obligation.
What is an Anticipatory Breach?
If a 15-year-old signs a contract to buy a luxury jet, the contract is "voidable" because the minor lacks this legal "C-word" required to enter an agreement.
What is Capacity?
To have "Capacity," a person must be of sound mind and at least this age.
What is 18
Despite a record-breaking rookie season in 2024, this Indiana Fever star’s WNBA salary was only about $76,000, While she signed a $28 million deal with Nike, the WNBA contract pays her less than the average UPS driver.
Who is Caitlin Clark?
This type of contract is formed through written or spoken words.
What is Express Contracts
(Blank) is a remedy designed to restore the injured party to its state or position before the contract was created.
What is Restitution
True or False: A contract written on a napkin is legally binding.
What is True
A "meeting of the minds" where both parties understand and agree to the essential terms.
What is Mutual Assent
In 2023, this world famous soccer star signed a contract with Inter Miami that included a share of Apple TV's subscription revenue.
Who is Lionel Messi