Term
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Definition
Assumption at law that strangers intend to be bound by their promises.
Persumption: Family members do not intend a contract.
Non-Family do intend to a contract. |
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| Restitution for losses naturally expect from breach of contract |
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Definition
| Specific damage that would flow from breach of contract |
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Definition
| Damages awarded by the court to punish the wrong doers. Not normally awarded for ordinary breach of contract. |
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Definition
| A small amount of money awarded to plantiff to show she/he was right but suffered no substainstal harm. |
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Definition
| Statement or act given to response to and in accordance with offer. |
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Definition
| Tentative promose subject to a condition. |
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Term
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Definition
| An offer without acceptance which binds only to one party. |
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Term
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Definition
| Two or more party bound to a contract that exchange promises for eachother to do something in the future. |
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Term
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Definition
| Formal made of expressing the intention to be cound by a written promise or an agreement. |
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Term
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Definition
| "As much as he had earned" A quasi-contractual remedy that permits a person to recover a reasonable price for service or material requested. Where no price is established when requested. |
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Term
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Definition
| Prevents a party from introducing verbal discussions of evidence that would contradict the terms of a contract. |
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Term
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Definition
| When one is physically forced or threat to be bound by a contract. |
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Term
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Definition
| State of affairs whereby a person is influenced by another that the person's judgement is not her/his own. |
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Term
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Definition
| State of affairs in which a party or both party forms an erroneous opinion as to the identity or the existence of the subject matter. |
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Term
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Definition
| Mistake by one party to the agreement therefore the contract is enforceable. |
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Term
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Definition
| Mistake where both parties made mistakes assumptions to the subject matter of the agreement. |
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Term
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Definition
| An unilateral mistake in identifying the other party. This is unenforceable if the identity is relevent. |
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Term
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Definition
| Mistake as to existence of subject matter of a contract or identity of a party. Unenforceable if the subject matter is unique. |
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Term
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Definition
| Blind/unable to read or unable to get assistance; People with this characteristic are mistake to the natural or the conract therefore contract is not enforceable. |
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Term
| Rectification of contract |
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Definition
The court will rectify the contract if:
- It is a clerial error
- Recording error in the contract is a mutual mistake
- Clear Uniequivocal Contract
- Neither parties were aware
- No furthur negotitation |
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Term
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Definition
| A statement or conduct that may either be innocent or fraudulent and that induces the person to enter a contract. |
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Term
| Innocent misrepresentation |
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Definition
| False statement of a material fact made by a party who believed the fact to be true. |
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Term
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Definition
| Condition that must be met before a contract becomes effective |
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Term
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Definition
| Recovation of a contract or agreement |
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Term
| Fraudulent Mispresentation |
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Definition
| False statement of fact made by a person who knows or should know that it is false and made with intention of deceiving another. |
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Term
| Mispresentation by dis-closer |
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Definition
| Or mispresentation by ommission. Very limited rule that only applies to utmost good faith in conract (Trust, Agency, Insurance and partnership) |
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Term
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Definition
| Benefit and obligation arise in a contract only |
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Term
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Definition
| Person can not incur liability under a contract to which he/she is not a party. |
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Term
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Definition
| Tort arises where a party suffers damage by acting upon false representation made by a party with the intetion of deceiving another. |
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Term
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Definition
| Substitution of parties of an agreement, or replacement of one agreement by another agreement. |
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Term
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Definition
The right that an asignee may enforce if certain conditions are met by assignment:
- Exeption to Privity; assignee to sue promisor
- Written assignment between assignee and assignor
- Signed by assignor
- Written notice to promisor
- Assignment must be absolute |
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Term
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Definition
| Discharge by occurence of an event that by custom of the trade would normally result in exemption from liability. |
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Term
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Definition
| Act of performing a contract or the offer of payment of money due under contract. |
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Term
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Definition
| Condition that alters the right/duties of the parties to the contract or may have the effect of termination that contract if it should occur. |
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Term
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Definition
| Unanticipated event that prevents the performance of the contract or causes damage to the property. |
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Term
| Doctrine of Substantial Performance |
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Definition
| One should be put in position where they would be if the other party had not breached. |
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Term
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Definition
- Unable to Perform
- Unique
- Beyond control |
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Term
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Definition
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Term
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Definition
| Obligation of an injural party to reduce the loss of flowing from breach of contract |
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Term
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Definition
| Discharge by the occurrence of an event specified in a contract. |
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Term
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Definition
| Clear Refusal by a party to perform a contract. |
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Term
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Definition
| Provision in a contract under which one party is protected from being sued for damages, losses, neglience or non-performance. |
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Term
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Definition
| Breach of Contract that goes to the root of the agreement |
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Term
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Definition
| Bone Fide estimation of monetary damages that would flow from breach of contract. |
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Term
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Definition
| An equitable Remedy of court that may be granted for breach of contract where money damages would be inadequate and that requires the defendant to carry out the agreement according to its terms |
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Term
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Definition
| An equitable remedy of court that orders a person to refrain from doing certain acts. |
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Term
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Definition
| Agreement that has its own consideration but supports another agreement. |
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Term
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Definition
| A threat of violence or injury to a person |
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Term
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Definition
| Defamatory statement or gesture |
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Term
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Definition
| The ability of law of one person for the act of another. |
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Term
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Definition
| Unlawful touching or striking of another person. |
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Term
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Definition
| Written, published or broadcasted defamation |
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Term
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Definition
| On going activity diminishing the value or enjoyment of property |
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Term
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Definition
| Standard of care used to measure act of negligence |
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Term
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Definition
| Breach of duty of care not to injure |
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