an agreement that is enforceable by a court of law or equity

Who can accept an offer?

Gives a minor the right to disaffirm most contracts that they have entered into with adults.

occurs when a person is deceived as to the nature
of their act and is unaware of what they are signing.

If a contracting party fails to perform an absolute duty owed under a contract.

A contract that is formed electronically.

is created when an offeror’s offer is accepted by the offeree.

A/ an _________ person is declared insane legally by a proper court or administrative agency.

When only one party is mistaken about a material fact regarding the subject matter of the contract.

Returning of goods or property received from the other party in order to rescind a contract; if the actual goods or property is not available, a cash equivalent must be made.

The party who makes an offer to enter into a contract

Withdrawal of an offer by the offeror terminates the offer.

When a minor does not disaffirm a contract within a reasonable period of reaching their majority or during the period of their minority, the contract is considered __________.

Occurs when an agent makes an untrue statement that he or she honestly and reasonably believes to be true.

A remedy that is available if there has been a breach of contract that cannot be adequately compensated through a legal remedy or to prevent unjust enrichment.

A doctrine that permits judges to make decisions based on fairness, equality,
moral rights, and natural law.

Finding mutual assent between the contracting parties is the _____ element of a contract.

These provisions relieve one or both parties to a contract from tort liability except in cases of intentional torts or gross negligence.

A mistake made by both parties concerning a material fact that is important to the subject matter of the contract.

A breach that occurs when one contracting party informs the other that he or she will not perform his or her contractual duties when due.

The sale and lease of goods and services and other property and the licensing of software over the Internet or by other electronic means.

To meet this rule, the offeree must accept the terms of the offer without modification.

A contract that provides that a seller of a business or an employee will not engage in a similar business or occupation within a specified geographical area for a specified time following the sale of the business or termination of employment.

Occurs where one person takes advantage of another person’s mental, emotional, or physical weakness and unduly persuades that person to enter into a contract or will; the persuasion by the wrongdoer must overcome the free will of the innocent party or testator.

An order of the court that orders that wages, bank accounts, or other property of the breaching party held by third persons be paid to the nonbreaching party to satisfy a judgment.