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BLaw

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lcarter's version from 2016-04-24 20:23

Section 1

Question Answer
ContractPomise or set of promises
Objective Theory of ContractsThe standard of contract agreement that is based on outsider point-of-view
Four elements of a contractAgreement, Consideration, Contractual Capacity, Legality
Defenses against a contractLack of form, mutual assent, genuine assent
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memorize

Section 2

Question Answer
BilateralPromise for a promise
UnilateralPromise for an act
FormalRequires Form
InformalNo form required, based on substance
Express ContractAll terms are expressed in some form
Implied ContractTerms are implied by action and reasonability
ExecutedContract performed completely by both sides
ExecutoryNot yet fully performed
ValidAll elements present
VoidNo contract, element missing
VoidableParty has option of avoiding or enforcing
UnenforcableValid contract that can't be enforced
memorize

Section 3

Question Answer
quasi-contractsImplied in courts when contract is necessary
Plain meaning ruleWhen a contract's writing is clear, it will be enforced on its terms
memorize

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