BLAW Final

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10 Terms

1
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Undue Influence

When one party takes advantage of another's weakness to persuade them to enter a contract.

2
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Unilateral Mistake

A situation where only one party is mistaken about a material fact in the contract.

3
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Capacity

The legal ability to enter a contract or perform a legal act.

4
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Consideration

Something of legal value exchanged between parties in a contract.

5
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Firm Offer

An offer that cannot be revoked even if no consideration is given by the offeree.

6
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Partial Performance

A situation where one party begins to perform their part of the contract but does not complete it.

7
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Valid Contract

A contract that meets all legal requirements and is enforceable in court.

8
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Unenforceable Contract

A contract that meets legal requirements but cannot be enforced in court.

9
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Void Contract

A contract that cannot be enforced by either party.

10
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Promissory Estoppel

A doctrine that prevents a promisor from raising defenses against enforcing a promise when there is reliance on that promise.