| A | B |
|---|
| Acceptance | unqualified willingness to along with offer |
| Aliens | people who are living in this country but owe allegiance to another |
| Benefit | something a party was not previously entitled to |
| Bilateral Mistake | mistake by two parties |
| Capacity | legal ability to enter into a contract |
| Consideration | exchange of things of value |
| Counteroffer | changing terms of initial offer |
| Detriment | any loss suffered |
| Duress | overcoming a person’s will by force |
| Economic Duress | threats to a person’s business |
| Forbearance | not doing something that you have a legal right to do |
| Fraud | deliberate deception to secure an unfair gain |
| Genuine Agreement | valid offer met by valid acceptance |
| Gratuitous | free agreements |
| Interest | fee owed to borrower |
| Legality | contract must not violate statutes |
| License | legal document giving permission to do something |
| Minor | not reached legal age of capacity |
| Mirror Image Rule | acceptance must not change terms of offer |
| Misrepresentation | untrue statement of facts |
| Necessaries | necessities |
| Offer | proposal of one party to another |
| Promissory Estoppel | a promise enforceable without consideration |
| Ratify | approve |
| Rejection | refusal of offer |
| Rescind | cancel |
| Restrictive Covenant | a promise not to compete |
| Revocation | taking back offer |
| Unconscionable | great inequality |
| Undue Influence | unfair persuasive pressure on another person |
| Unilateral Mistake | error by one of the parties |
| Usury | charging more than maximum legal interest rate |
