Random 1
A promise for a promise creates this kind of contract
What is bilateral?
This rule means that all elements of the offer have to be met in the acceptance
What is the mirror image rule?
What is consideration?
When contract duties are excused because of an "Act of God"
What is force majeure?
These restore the "benefit of the bargain"
What are compensatory damages?
This excuses the innocent party from all contract obligations.
What is material breach?
A counter-offer does this to the original offer
What is reject/rejection?
The two elements of an agreement
What are offer and acceptance?
The defense used when some kinds of contracts are not in writing
What is the Statute of Frauds?
These have to be reasonably forseeable
What are consequential damages?
This kind of contract can only be formed by a performance, not a promise
What is a unilateral contract?
One party's failure to complete a bit of the contract, entitling the other to partial damages
What is minor or partial breach?
When an offeror withdraws the offer before it is accepted
What is revocation?
This makes acceptances made against someone's free will unenforceable.
What is duress?
Plaintiffs have to limit their own damages because of this duty
What is mitigation?
This allows a party to stop and sue before the contract due date, if they suspect imminent breach.
What is anticipatory repudiation?
Having already done something or given something for other reasons can't secure a contract because it is this
What is past consideration?
In Lucy v Zehmer, the court ruled that Lucy had this, despite being "high as a Georgia pine."
What is capacity?
The defense used when one party has unusually strong powers over the other due to their relationship
What is undue influence?
The compelled transfer of something unique, instead of money
What is specific performance?
The principle that prioritizes what's written over conflicting oral evidence
What is the parol evidence rule?
This term means substituting one party to a contract for another party
What is novation?
When a party owes a professional duty to act before an agreement is formed, voiding the contract
What is pre-existing duty?
When a party relies on a promise to their severe detriment and it would be unjust to excuse the other party
What is promissory estoppel?
When parties specify reasonable specific damages in advance as part of a contract
What are liquidated damages?