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| A binding agreement based on the genuine assent of the parties, made for lawful object, between competent parties, in the form required by law, and generally supported by consideration |
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| As much as deserved; an action brought for the value of services rendered the defendant when there was no express contact as to the purchase |
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| Court imposed to prevent unjust enrichment in the absence of a contract |
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| Right of a party to meet the terms of a proposed contact before it is executed, such as a real estate purchase agreement |
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| Contract to hold an offer to make a contract open for a fixed period of time |
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| Contract under which only one party makes a promise |
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| Agreement under which one promise is given in exchange for another |
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| Agreement by which something remains to be done by one or both parties |
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| Agreement that has been completely performed |
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| Agreement that cannot be enforced |
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| Agreement that is otherwise binding and enforceable but may be rejected at the option of one of the parties as the result of specific circumstances |
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| Agreement that is binding and enforceable |
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| Contract expressed by conduct or implied or deduced by facts |
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| Agreement of the parties manifested by their words whether spoken or written |
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| Simple oral or written contact |
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| Obligation entered into before a court to do some act, such as to appear at a later date for a hearing. Also called a contract tot record |
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| Contract executed by affixing a seal or making an impression on the paper or on some adhering substances such as wax attached to the document |
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| Written contracts or agreements whose formality signifies the parties’ intention to abide by the terms |
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| Person to whom an offer is made |
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| Person who makes an offer |
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| Relationship between a promisor and the promisee |
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| Succession or chain of relationship to the same thing or right, such as a privity of contract, privity of estate, privity of possession |
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| Promisee who can claim the benefit of the obligation |
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| Person whom a promise is made |
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| Person who makes a promise |
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| Expression of an offeror’s willingness to enter into a contractual agreement |
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| Unqualified assent to the act or proposal of another; as the acceptance of a draft (bill of exchange), of an offer to make a contact, of goods delivered by the seller, or of a gift or deed |
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| Proposal by an offeree to the offeror that changes the terms of, and thus rejects, the original offer |
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| Offer stated to be held open for a specified time, which must be so held in some states even in the absences of an option contract or under the UCC, with respect to merchants |
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| Contract of the producer to sell its entire production or output to a given buyer |
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| Contract to buy all requirements of the buyer from the seller |
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| Agreement consisting of two or more parts, each calling for corresponding performances of each part by the parties |
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| Ability to understand that a contract is being made and to understand its general meaning |
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| Conduct that deprives that victim of free will and that generally gives the victim the right to set aside any transaction entered into under such circumstances |
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| Influence that is asserted upon another person by one who dominates that person |
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| Confidential Relationship |
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Definition
| Relationship in which because of the legal status of the parties or their respective physical or mental conditions or knowledge, one party places full confidence and trust in the other |
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Definition
| Making of a false statement of a past or existing face, with knowledge of its falsity or with reckless indifference as to its truth, with the intent to cause another to rely thereon, and such person does rely thereon and is harmed |
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| Remedy by which a written instrument by which a written instrument is corrected when it fails to express the actual intent of both parties because of fraud, accident, or mistake |
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| Things indispensable or absolutely necessary for the sustenance of human life |
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| Original positions of the parties |
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| Promise or performance that the promisor demands as the price of the promise |
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| Doctrine that a promise will be enforced although it is not supported by consideration when the promisor should have reasonably expected that the promise would induce action or forbearance of a definite and substantial character on the part of the promised and injustice can be avoided only by the enforcement of the promise |
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| Something that has been performed in the past and which, therefore cannot be consideration for a promise made in the present |
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| Agreement among creditors that each shall accept a part of payment in consideration of the other creditors doing the same |
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| Crossing out of a part of an instrument or a destruction of all legal effect of the instrument, whether by act of party, upon breach by the other party, or pursuant to agreement or decree of court |
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| Promise that in face does not impose an obligation on the promisor |
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| Refraining from doing an act |
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| Equally guilty; used in reference to a transaction as to which relief will not be granted to either party because both are equally guilty of wrongdoing |
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| Absence of knowledge of any defects or problems |
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| Contract offered by a dominant party to a party with inferior bargaining power on a take-it-or-leave-it basis |
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| Certain objectives relating to health, morals, and integrity of government that the law seeks to advance by declaring invalid any contract that conflicts with those objectives even though there is no statute expressly declaring such a contract illegal |
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| Any plan by which a consideration is given for a chance to win a prize; it consists of three elements: (1) there must be a payment of money or something of value for an opportunity to win, (2) a prize must be available, and (3) the prize must be offered by lot or chance |
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| Leading money at an interest rate that is higher than the maximum rate allowed by law |
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| Statute that, in order to prevent fraud through the use of perjured testimony, requires that certain kinds of transactions be evidenced in writing in order to be binding or enforceable |
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| Language and customs of an industry |
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| Undertaking to pay the debt or be liable for the default of another |
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| Administrator or executor who represents descents under UPC |
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| Person (man, woman) named in a will to administer the estate of the decedent |
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| Administrator, Administratrix |
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| Person (man, woman) appointed to wind up and settle the estate of a person who has died without a will |
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| Person whose estate is being administered |
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| Rule that prohibits the introduction of evidence of oral or written statements made prior to or contemporaneously with the execution of a complete written contact, deed, or instrument, in the absence of clear proof of fraud, accident, or mistake causing the omission of the statement in question |
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| Having more than one reasonable interpretation |
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| Incorporation by Reference |
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Definition
Contract consisting of both the original or skeleton
document and the detailed statement that is incorporated in it |
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