Elements of a Contract
Elements of a Contract
Elements of a Contract
Types of Contract
Types of Contract
195
a promise that the law will enforce
contract
195
The parties must be adults of sound mind
Capacity
195
A contract where the words and conduct of the parties indicate that they intended an agreement.
Implied Contract
195
A contract where the parties intend to form a valid bargain but a court declares that some rule of law prevents enforcing it.
unenforcable agreement
255
A court will award money or other relief to a party injured by a breach of contract.
Remedies
255
If Jerome and Tara have a contract, and if the deal falls apart, can Kevin sue to enforce the agreement? It depends.
Third-Party Interests
255
offer, acceptance, consideration, legality, capacity, consent, writing.
Elements of a Contract
255
A contract that satisfies all the law's requirements.
Valid Contract
255
An agreement with all important terms explicitly stated.
Express Contract
290
The restaurant's website set forth its terms, which was an offer. Chris accepted when he clicked the box.
A valid offer and acceptance
290
While verbal agreements are often contracts, some types of contracts must be in writing to be enforceable.
Writing
290
the contract must be for a lawful purpose
Legality
290
A contract that neither party can enforce, because the bargain is illegal or one of the parties had no legal authority to make it.
void agreement
290
one party makes a promise that the other party can accept only by actually doing something.
Unilateral Contract
350
Once a party receives an offer, they must respond to it in a certain way.
Acceptance
350
Certain kinds of trickery and force can prevent the formation of a contract.
Consent
350
advertisment is considered to be to be a legal offer
no
350
An agreement in which all parties have fulfilled their obligations.
Executed Contract
350
An agreement that, because of some defect, may be terminated by one party, such as a minor, but not by both parties.
Voidable Contract
500
All contracts begin when a person proposes a deal.
Offer
500
There has to be bargaining that leads to an exchange between the parties.
There has to be bargaining that leads to an exchange between the parties.
500
A binding agreement in which one or more of the parties has not fulfilled its obligations.
Executory
500
both parties make a promise
Bilateral Contract