Law Unit 4 - Contracts

Front

Any agreement enforceable by law

Back

Contract

Front

The law that requires certain agreements be in writing is called the:

Back

Statute of frauds

Front

Which of these is NOT one of the required elements of a contract? Genuine agreement, Capacity, Exchange of money, Legality

Back

Exchange of money

Front

The thing of value promised to be exchanged by parties is known as....

Back

Consideration

Front

The mirror image rule means that:

Back

The terms of acceptance must match the exact terms of the offer

Front

Not all agreements are contracts, but...

Back

All contracts ARE agreements

Front

A contract with a promise made by one party to do something after something else happens is a ...

Back

Unilateral Contract

Front

If a contract lacks one or more required elements, it is considered....

Back

Void

Front

An express contract is one that is:

Back

Stated in words or writing

Front

Jim hires Pam to paint a mural for $200. He gives her $100 up front, she paints the mural and gets the other $100. This is an example of a(n):

Back

Bilateral contract