LGLA1351-Chapter 1 Word Scramble
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Question | Answer |
manifestation of assent to the offer proposed. | Acceptance |
a contract in which a promise is exchanged for a promise. | Bilateral Contract |
the bargain of the contract; a benefit conferred or detriment incurred at the request of the other party. | Consideration |
a legally enforceable agreement between two or more parties in which each agrees to give and receive something of legal value. | Contract |
the legal ability of a person to enter into a contractual relationship. | Contractual Capacity |
the branch of the law that deals with fairness and mercy to prevent unjust enrichment. | Equity |
a contract that is complete and final with respect to all of its terms and conditions. | Executed Contract |
a contract in which one or both of the parties still have obligations to perform. | Executory Contract |
a contract manifested in words, oral or written. | Express Contract |
historically, a written contract under seal; currently, any contract so designed by a state statute. | Formal Contract |
a contract in which the promises of the parties are inferred from their actions as opposed to specific words. | Implied-in-fact Contract |
see Quasi-contract. | Implied-in-law Contract |
an non-formal contract. | Informal Contract |
agreeing to the same terms at the same time; the offer and acceptance combined. | Mutual Assent |
a proposal by one party to another manifesting an intent to enter into a valid contract. | Offer |
a legal relationship that the courts, in the interest of fairness and equity, treat in a manner similar to a contractual relationship, even though no contract exists. | Quasi-contract |
a contract that is otherwise valid but for a breach of which there is no remedy at law. | Unenforceable Contract |
a contract in which a promise is exchanged for an act. | Unilateral Contract |
an agreement that meets all six contractual requirements. | Valid Contract |
a situation in which the parties have attempted to create a contract, but in which one or more of the requisite elements are missing, so no contract exists. | Void Contract |
a contract that one party may avoid at his option without being in breach of contract. | Voidable Contract |
Created by:
dawnbryant
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