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Business Law Chapter 10 Vocabulary Review

Complete to the best of your ability

AB
breach of contracta wrongful failure to perform one or more promises of a contract
perjurymaking false statements under oath in court
statute of fraudsstate law requiring that certain contracts be evidenced by a writing
memorandumwritten evidence of an agreement
goodsconsist of movable items, including specially manufactured items such as furniture and automobiles
real propertyland and anything permanently attached to it
parol evidence rulestates that the evidence of oral statements made before signing a written agreement cannot be presented in court to change or add to the terms of that written agreement
best evidence rulea court would look with disfavor at photocopies or carbon copies of the written agreement, preferring instead to see the original agreement.
duplicate originalswhen a contract is reduced to writing, each party receives an original version of the contract. These originals are referred to as this.
Executory contractcontracts that are not yet fulfilled


Business Education Teacher
Bangor High School
Bangor, PA

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