Basic Contract Law
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| assignment | show 🗑
|
||||
| Auction | show 🗑
|
||||
| show | A type of contract in which both parties promise to do or refrain from doing something; one promise is exchanged for another. "I will do this and you will do that"
🗑
|
||||
| compensatory damages | show 🗑
|
||||
| consequential damages | show 🗑
|
||||
| Consideration | show 🗑
|
||||
| Contract | show 🗑
|
||||
| show | An attempt by the offeree to change any of the terms proposed by the offeror
🗑
|
||||
| show | Money deposited by a buyer under the terms of a contract, to be forfeited if the buyer defaults but applied to the purchase price if the sale is closed.
🗑
|
||||
| executed contract | show 🗑
|
||||
| Executory Contract | show 🗑
|
||||
| show | An oral or written contract in which the parties state the contract's terms and express their intentions in words.
🗑
|
||||
| implied contract | show 🗑
|
||||
| show | The purpose of a legally enforceable contract; cannot be for illegal actions or acts against public policy.
🗑
|
||||
| Legally Competent Parties | show 🗑
|
||||
| liquidated damages | show 🗑
|
||||
| show | A deliberate agreement between parties; offer and acceptance; “meeting of the minds.” A requirement of a legally enforceable contract.
🗑
|
||||
| show | A phrase in a contract that requires the performance of a certain act no later than the stated time or the noncompliant party is in breach and the contract may be voidable by the opposite party.
🗑
|
||||
| show | A deliberate agreement between parties; offer and acceptance; "meeting of the minds." A requirement of a legally enforceable contract.
🗑
|
||||
| show | Substituting a new contract for an old one or substituting new parties to an existing contract.
🗑
|
||||
| show | In NC, the most common title for a real estate sales contract
🗑
|
||||
| show | Two essential components of a valid contract.
🗑
|
||||
| show | A rule of evidence providing that a written agreement is the final expression of the agreement of the parties, not to be varied or contradicted by prior or contemporaneous oral or written negotiations.
🗑
|
||||
| show | If misrepresentation, fraud, mistake of fact, undue influence or duress are absent in contract formation, good contract is formed.
🗑
|
||||
| rescission | show 🗑
|
||||
| specific performance | show 🗑
|
||||
| show | A state law that requires that certain instruments that convey interest in real estate be in writing to be legally enforceable, such as deeds, real estate sales contracts, and certain leases.
🗑
|
||||
| statute of limitations | show 🗑
|
||||
| time is of the essence | show 🗑
|
||||
| unenforceable contract | show 🗑
|
||||
| show | A one-sided contract in which one party makes a promise to induce a second party to do something. "I will give you a reward if you find my dog"
🗑
|
||||
| valid contract | show 🗑
|
||||
| Voidable Contract | show 🗑
|
||||
| show | A contract that has no legal force or effect. It is unenforceable in a court of law b/c it does not meet the essential elements of a contract.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
whitwill
Popular Real Estate sets