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Elements of a Contract
Ending a Contract
Characteristics of a Contract
Starting a Contract
Vocab
100

The legal ability to enter into a contract

What is capacity?

100
The way most contracts are discharged (completed).
What is discharge by performance?
100
A contract that comes about from the actions of the parties
What is an implied contract?
100
A rule that states that the terms stated in the acceptance must be the same terms as the offer.
What is the mirror imaging rule?
100
Freeing someone from the control of another.
What is emancipation?
200

A person who has not yet reached the age of adulthood.

What is a minor?

200
An offer to do what you have agreed to do under a contract.
What is tender?
200
A contract that contains 2 promises.
What is a bilateral contract.
200
The taking back of an offer by the offeror.
What is revocation?
200
A legal principle that holds that nobody should be allowed to do something that harms the public.
What is public policy?
300
The element of a contract that requires that unlawful acts are not involved in the contract.
What is legality?
300
When 2 parties end a contract by mutual agreement.
What is discharge by agreement?
300
A contract that is created by speaking.
What is an oral contract?
300
The refusal of an offer by the offeree that beings the odder to an end.
What is rejection?
300
When one party to a contract fails to perform the duties spelled out by the contract.
What is breach of contract?
400
The element of a contract that requires that both parties receive something of value.
What is consideration?
400
Discharge of a contract due to death, illness, or destruction of subject matter.
What is discharge by impossibility of performance?
400
A contract that is legally good.
What is a valid contract?
400
An offer from one party that changes the terms of the original offer.
What is a counteroffer?
400
An agreement that is true and genuine.
What is genuine agreement?
500
A proposal by one party to another.
What is an offer?
500
When the law declares an contract is discharged.
What is discharge by operation of law.
500
A contract that may be cancelled.
What is a voidable contract?
500
Invitations to deal, trade, or make an offer.
What is an invitation to negotiate?
500
Any agreement enforceable by law.
What is a contract?