Contract 101
This law protects patient's private medical information
What is HIPAA
The initial step in forming a contract
What is an offer?
Something of value exchanged in a contract
What is consideration?
The minimum legal age to enter a contract
What is 18?
Money awarded when a contract is broken
What are damages?
A contract with no legal effect from the beginning
What is a void contract?
A statement showing agreement to the terms of the offer
What is acceptance?
A promise without consideration is usually this
What is unenforceable?
A person declared mentally incompetent lacks this
What is capacity?
Latin phrase meaning "let the buyer beware"
What is caveat emptor?
A contrat that can be enforced in court
What is a valid contract?
The person who makes an offer
Who is the offeror?
Consideration must exit when the contract is formed
What is present consideration?
A minor's contract can usually be described as this
What is voidable?
A contract made for an illegal purpose is this
What is void?
A contract one party may legally cancel
What is a voidable contract?
The person who receives the offer
Who is the offeree?
A promise to do what you're already legally required to do
What is not valid consideration?
The legal ability to form a binding contract
What is contract capacity?
This type of law governs contracts
What is civil law?
A contact created by actions, not words
What is an implied contract?
A response that changes the original offer
What is a counteroffer?
Rule that courts don't care if consideration is fair
What is the adequacy of consideration rule?
If someone is too intoxicated to understand, their contract may be this
What is voidable
A clearly stated written or spoken agreement
What is an express contract?