3552023
Description
Mind Map by jaelyntotten295370, updated more than 1 year ago
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Created by jaelyntotten295370
about 9 years ago
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key terms to contracts
- offeree
Annotations:
- offer made to the person
- offeror
Annotations:
- makes the offer
- Oral
Annotations:
- created by two or more people speaking to each other
- death
Annotations:
- offeror dies
- Rejection
Annotations:
- refusal by offeree
- Legality
Annotations:
- illegal contracts
- mutual mistake
Annotations:
- Both parties are mistaken about an important fact
- Express
Annotations:
- contract statement that may be written or oral
- noncriminal consideration
Annotations:
- token amount in a written contract where either parties cant or do not wish to state the amount
- option
Annotations:
- the offeree gives the offeror something in value in return for a promise
- Economic Duress
Annotations:
- threats to a persons business and income
- past performance
Annotations:
- act that has already been performed cant be consideration in a contract
- Restrictive covenant
Annotations:
- agreement not to complete in a region for a period of time
- benefits
Annotations:
- something that a party was not previously entitled to receive
- bilateral
Annotations:
- contains two promises
- Emancipation
Annotations:
- serving of the parent child relationship
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