contract law

offeror

person who mades an offer

offeree

to whom the offer is being made for

requirements of a contract

genuine assent, legality, consideration, capacity, writing,

contractual intent

not actually creating an offer, like a social agreement or saying something out of anger or as a joke.

option

giving the offeror something in return for the offer to stay open for a certain amount of time.

genuine assent

entering a contract with free will

the contract is voidable

When the offeree is not under genuine assent and is being forced and can cancel it

rescession

when the party gets back everything after voiding a contract

duress

when a party threatens another for the contract, making it voidable

types of duress

illegal, threats to report crimes or sue, or economic threat

undue influence

a wrongful persuasion in a relationship